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Carlyle Group has agreed to pay a $20 million fine to resolve its role in the New York investigation of corruption, as part of a settlement with Attorney General Andrew Cuomo allowing the firm to wipe the slate clean.

The influential Washington firm has also signed onto a newly constituted Pension Fund Code of Conduct banning investment firms "from hiring, utilizing or compensating placement agents, lobbyists, or other third party intermediaries to communicate or interact with public pension funds to obtain investments," Cuomo's office said in a Thursday, May 14, statement.

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