NEW YORK (Reuters) - Broker-dealer First Horizon Advisors, Inc has agreed to pay a civil penalty of $325,000 in connection with its recommendations for certain products, the U.S. Securities and Exchange Commission said in a statement on Wednesday.

The SEC found First Horizon ( FHN ) failed to maintain and enforce policies and procedures reasonably designed to achieve compliance with Regulation Best Interest (Reg BI). First Horizon ( FHN ) did not comply with the new rule in multiple ways, including by approving recommendations to customers without having all the accurate information they needed to review for some accounts, the SEC said in the statement.

A lawyer for First Horizon ( FHN ), which did not admit or deny the SEC's findings, did not respond immediately to a request for comment.

To settle the SEC's charges, First Horizon ( FHN ) agreed to a censure and a cease-and-desist order, in addition to the civil penalty.