Morgan Stanley is finalizing a $275 million agreement with the U.S. Securities and Exchange Commission to settle the SEC probe into the bank’s toxic subprime mortgage bond trades going back to 2007.

Morgan Stanley will pay $275 million in fines to resolve the probe, the company stated in a filing late Tuesday night.

In the proposed deal, Morgan Stanley is not admitting to any illegalities or violations of regulations.

Commissioners at the SEC have not approved the deal, and calls to the SEC were not returned at press time.

"The Company would pay disgorgement and penalties in an amount of $275 million and would neither admit nor deny the SEC's findings," the banking giant’s statement reads. "The SEC has not yet presented the proposed settlement to the Commission and no assurance can be given that it will be accepted."

Morgan Stanley has already said it will pay $1.25 billion to the FHFA to settle charges that it misled investors on the sale of mortgage-backed securities ahead of the housing bust.

Morgan Stanley and a number of other banks and Wall Street firms have been under the SEC probe for their practices leading up to and into the subprime mortgage meltdown, specifically the residential mortgage bonds the firm underwrote.

According to the company filing, the $275 million, which would come out of the company’s 2013 earnings, includes SEC fines and penalties and all proceeds from the bonds in question.