Mitchel Guttenberg and DSJ International Resources had been named among 14 defendants including former employees of Morgan Stanley and Bear Stearns, in the regulator's original complaint.
The SEC had alleged that between at least 2001 and 2006, Mr Guttenberg - an executive director in UBS's equity research division - had tipped off Wall Street traders about imminent analyst upgrades and downgrades in return for a share of the profits generated from trading on that information.
Employees at DSJ, which did business as Chelsey Capital at the time, is alleged to have received "downstream" tip-offs from traders passing on Mr Guttenberg's information.
It will forfeit $8.9 million to settle the case, while Mr Guttenberg will pay $15.8 million, the SEC said in a statement reported by Bloomberg.
Furthermore, Mr Guttenberg, who had previously pleaded guilty to related criminal charges, has been barred from future association with investment or brokerage advisers.