U.S. Settles With Dean Witter

WASHINGTON — Dean Witter Reynolds Inc., the fourth largest U.S. brokerage firm, settled federal charges today that it failed to file currency transaction reports for at least 38 transactions totaling just over $1 million.

The Securities and Exchange Commission, which brought administrative charges against Dean Witter, a New York-based subsidiary of Sears, Roebuck & Co., said the brokerage firm consented, without admitting or denying the allegations, to a censure by the agency. The settlement also requires Dean Witter to take certain steps to correct reporting procedures.