UPDATE 2-Ameriprise to pay $17.3 mln in disclosure case

* Ameriprise to pay $17.3 million settlement

* Company does not admit or deny wrongdoing (Adds company's statement, share movement)

WASHINGTON/NEW YORK, July 10 (Reuters) - Ameriprise Financial Services (AMP.N) agreed to pay $17.3 million to settle accusations it received undisclosed payments to sell real estate investment trusts to its customers, the U.S. Securities and Exchange Commission said on Friday.

The SEC said the Minneapolis-based broker dealer failed to disclose to its clients that certain REITs had given it "revenue sharing" payments related to its sales of their shares.

Ameriprise also sold more than $100 million of unregistered shares of one particular REIT in violation of the registration provisions of U.S. securities laws, the regulator said.

As part of the settlement, Ameriprise neither admitted nor denied wrongdoing.

"This is a very old case that hinged on issues of revenue sharing disclosure that ended in early 2004," company spokesperson Paul Johnson said.

"We long ago expanded our disclosures to ensure that our clients received the information from us directly as well as through the prospectus of the product issuer."

The SEC said its investigation was continuing.

"Few things are more important to investors than getting unbiased advice from their financial advisers," Robert Khuzami, the SEC's enforcement director, said in a prepared statement. "Ameriprise customers were not informed about the incentives its brokers had to sell these investments."

Shares of Ameriprise, which was spun off from American Express (AXP.N) in 2005, were down 30 cents at $22.23 in afternoon trade on the New York Stock Exchange. (Reporting by Julie Vorman and Sweta Singh; Editing by Matt Daily and Steve Orlofsky)