Kansas City, Mo. ? A subsidiary of H&R Block Inc. said Tuesday it had agreed to pay $500,000 in fines to settle charges that two former brokers helped a hedge fund engage in improper trading practices.

The National Association of Securities Dealers, the brokerage industry’s self-policing organization, also required the investment division of the world’s largest tax preparer to pay $325,000 in restitution to mutual funds affected by the improper trades.

The subsidiary, H&R Block Financial Advisors Inc., said it agreed to settle the case without admitting wrongdoing.

“The trading in question was isolated to two former financial advisers who executed unsolicited trades requested by one client,” said Brian Nygaard, H&R Block Financial Advisors president and chief executive, in a written statement.

Shares of Kansas City, Mo.-based H&R Block Inc. closed Tuesday down 23 cents a share to $48.28 on the New York Stock Exchange.