Fidelity Investments to pay $8 million in SEC case

WASHINGTON, March 5 (Reuters) - Fidelity Investments, the world's biggest mutual fund firm, has agreed to pay an $8 million penalty to settle charges that it and its executives improperly accepted more than $1.6 million in lavish gifts, the U.S. Securities and Exchange Commission said on Wednesday.

The SEC said Fidelity and 13 current or former employees accepted travel, entertainment and other gifts paid for by outside brokers courting Fidelity's massive trading business.

Fidelity settled the case without admitting or denying the charges, the SEC said. (Reporting by Karey Wutkowski; Editing by Tim Dobbyn)