Morgan Keegan has to pay out another $25,000 in arbitration, this time thanks to a high yield fund. On Monday James A. Dunlap Jr. & Associates revealed that the brokerage has to pay the damages and fees, thanks to the Morgan Keegan Select High Income Fund, now called the Helios Select High Income Fund.

Morgan already passed management of its bond funds to Hyperion last year. And earlier this year, Morgan Keegan's parent, Regions Financial, agreed to sell 11 RMK Select Funds to Pioneer.

This isn't Morgan Keegan's only arbitration loss lately. Earlier this month, retired NBA star Horace Grant won a $1.46 million arbitration award due to four other Morgan Keegan funds. 

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