By Chris Prentice and Carolina Mandl

NEW YORK (Reuters) -The U.S. Securities and Exchange Commission (SEC) is finalizing settlements with around two dozen Wall Street firms to resolve investigations into record-keeping lapses, said two people with knowledge of the matter.

The settlements with broker-dealers and investment advisers would mark the latest enforcement action in the SEC's two-year crackdown on Wall Street's use of WhatsApp and other unapproved messaging apps that has so far resulted in more than $2 billion in fines.

Under the deals being finalized with the SEC, the firms would pay fines, admit wrongdoing and commit to fixing the lapses, including by hiring independent consultants to overhaul their record-keeping programs, the two sources said. One said some firms could pay as much as $50 million.

The SEC is expected to announce some of the settlements in one group ahead of its fiscal year-end on Sept. 30, but the negotiations are fluid, said a third source familiar with the situation.

The sources, who spoke on the condition of anonymity because SEC investigations are confidential, said roughly two dozen firms are involved but Reuters could not immediately ascertain their names.

A spokesperson for the SEC declined to comment.

(Reporting by Chris Prentice and Carolina Mandl; Editing by Michelle Price and Tom Hogue)