HELENA, Mont. (AP) — An Atlanta-based financial advisory firm has reached a settlement with Montana regulators over the alleged illegal activities of a former employee in Missoula.

The settlement with FSC Securities Corp. includes paying $1.1 million to clients of Barry Hartman, who put investors' money into his now-bankrupt software firm. FSC is paying another $150,000 in fines and costs.

FSC also is returning $1.5 million to clients whose money was placed in illiquid investments and will waive or refund surrender penalties on $2.7 million in annuities. Regulators found those investments were not suitable based on his clients' investment objectives.

Securities Commissioner Matt Rosendale said the settlement was reached on Feb. 15. FSC Securities does not acknowledge or deny wrongdoing, but Rosendale appreciates the company's cooperation in returning money to investors.