Fidelity Investments today agreed to pay an $8 million civil penalty as part of a final settlement with the SEC, which charged that Fidelity employees allowed gifts from brokers, rather than "best execution," to influence how the company directed its trading orders. The SEC alleged Fidelity and 13 current or former employees, including Fidelity trustee and Vice Chairman Peter Lynch, improperly accepted $1.6 million in travel, entertainment and other gifts from brokers, according to a news release from the SEC. As a result, the SEC charged, Fidelity failed to seek "best execution," creating "a serious risk of investor harm. " Fidelity did not admit or deny the SEC's charges. In a company news release, Fidelity said the settlement concludes the regulatory investigations into "these events, which took place more than three years ago. " Fidelity noted that none of its employees cited by the SEC remains on the firm's trading desk; most already left the firm.