UBS Financial Services Inc. has agreed to pay the New York Stock Exchange, New Jersey and Connecticut $55 million to settle allegations that it failed to properly supervise brokers who engaged in deceptive market-timing activities, the New Jersey attorney general announced Thursday.

Under the settlement, UBS will split the bulk of the payment — $49.5 million — between New Jersey and the New York Stock Exchange. Connecticut will receive $5.5 million, the company said in a statement Thursday.