WASHINGTON -- Federal authorities yesterday wrapped up their probe of Salomon Brothers Inc. by announcing a $290 million settlement that clears the way for the firm to return to the government securities market as a regular primary dealer in early August.

The settlement, which was outlined by Securities and Exchange Commission Chairman Richard C. Breeden and officials from the Federal Reserve, the Justice Department, and the Treasury Department, completes a 10-month investigation of Salomon trading activities that began last August.

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