Boston-based Realty Capital Securities (RCS) will pay a $3 million fine to the state of Massachusetts and terminate its securities business nationwide to settle a complaint by Secretary of State William Galvin that it falsified proxy voting on a buyout proposal.

Galvin last month alleged that supervisors at RCS’ One Beacon St. offices pressured rank-and-file employees to impersonate shareholders on conference calls to gain votes in favor of a management-endorsed $387 million takeover bid by investors Nicholas Schorsch and William Kahane. RCS employees falsified proxy votes for American Realty Capital II-sponsored investment funds, a parent company in which Schorsch and Kahane have an indirect majority stake, according to the complaint filed in Suffolk Superior Court. Schorsch resigned as CEO of BCDA Adviser in November 2014.

RCS will terminate its registration in Massachusetts this week and agreed to end its registration with the Securities and Exchange Commission nationwide. It is notifying employees outside Massachusetts of the shutdown this week, according to the settlement agreement. The Boston office also is expected to shut down in the near future, according to Galvin spokesman Brian McNiff.

Galvin began investigating the company in July after a whistleblower contacted his office.