The restitution, however, does not resolve investigations by regulators of the company and is considerably less than Alliance Capital agreed to pay earlier this week.

And Time Warner is still working to resolve federal investigations into its accounting around the time of the merger.

A settlement here would not resolve other investigations and settlement discussions now under way.

Up to a dozen employees may lose their jobs as the company moves to resolve investigations, these people said.

Prudential Securities paid $1.5 billion in fines, compensation and legal fees to resolve investigations and lawsuits over the partnership sales.

The pact resolved investigations of the industry by attorneys general in 18 states, including New York.

"The critical issue is to resolve these disputes and investigations."

Janus's chief executive, Mark Whiston, said yesterday in a statement that the changes did not resolve investigations by regulators.

To that end, Mr. Greenberg recognizes the need to promptly and cooperatively resolve all inquiries and investigations by regulators and other authorities.

Its characteristics are embedded in a curriculum where students are engaged in resolving problems, conductung investigations, or developing projects.