Mr. Samberg also agreed to be barred from working as an investment adviser; he had already been winding down Pequot, which was once the world’s largest hedge fund, with $15 billion in assets.
The circumstances surrounding Mr. Aguirre’s termination have been the subject of investigations by the Senate Judiciary Committee, led by Arlen Specter, Democrat of Pennsylvania, and the inspector general of the S.E.C. Both inquiries were critical of S.E.C. actions in the initial Pequot investigation and the matter involving Mr. Aguirre. His accusations were first made public in an article in The New York Times in June 2006.
Senate investigators’ in-depth report on the matter cited delays in the S.E.C.’s investigation of Pequot’s trades and the disclosure of delicate information by high-level agency officials to lawyers representing those under scrutiny in the investigation.
“It’s a shame the team I worked with at the S.E.C. did not get to complete the Pequot investigation,” Mr. Aguirre said in a statement. “The filing of the case in 2005 or 2006, before the financial crisis, would have been the right message at the right moment for Wall Street elite: the S.E.C. goes after big fish too.”
A spokesman for the S.E.C., John Nester, said, “The settlement resolves all outstanding litigation between the parties and reflects the agency’s determination to focus on its core mission of protecting investors.”
Charles E. Grassley, the Iowa Republican who oversaw the Senate inquiry into Mr. Aguirre’s allegations, said: “After Gary Aguirre’s five-year battle with the S.E.C., this settlement sure sounds like vindication. Three years ago, our Senate inquiry concluded that his termination appeared to be reprisal for speaking out against the S.E.C. pulling its punches with Wall Street. It’s encouraging to see the dispute finally resolved.”