A whistleblower at Paradigm Capital Management, an Albany, New York-based provider of mutual funds marketed to fee-based RIAs, and institutional separately managed accounts, has been awarded a more than $600,000 reward from the Securities and Exchange Commission.
The award comes after the first so-called "retaliation" case brought by the SEC.
Last year, the SEC charged Paradigm with engaging in prohibited transactions, and then retaliating against a former employee for reporting the firm to regulators.
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