The former chief executive and chief financial officer of ITT Educational Services Inc. have settled with the Securities and Exchange Commission, the regulatory agency said late Friday. CEO Kevin Modany and CFO Daniel Fitzpatrick are barred from holding senior positions at public companies for five years and ordered to pay fines. Modany owes $200,000 and Fitzpatrick owes $100,000, the SEC said. "Holding individuals accountable - particularly senior executives - is a critical focus of our enforcement program," said Stephanie Avakian, co-director of the SEC's Division of Enforcement. "These settlements, entered into on the eve of trial after years of litigation, reflect our commitment to this accountability." Modany and Fitzpatrick did not admit nor deny the SEC's allegations as a part of the settlements. Both men were charged in 2015 for allegedly concealing ITT's weak financial performance. The company ceased operations in 2016.