Dean Witter Reynolds, now part of Morgan Stanley Dean Witter, has agreed to pay a $200,000 fine and repay $276,702 to customers. The fines were paid in order to settle federal regulators' accusations that it failed to supervise one of its brokers. According to the Securities and Exchange Commission, the broker illegally switched certain clients from different mutual funds to increase commissions. Forty-eight mutual funds were switched throughout seven different accounts. Over $250,000 in sales charges were improperly billed.