A registered investment advisor firm headquartered in Florida is to pay a $500,000 civil penalty to settle charges from the Securities and Exchange Commission relating to whistleblowing.

GQG Partners settled without admitting or denying wrongdoing while acknowledging the US SEC's jurisdiction in the case.

The US regulatory body said in a statement that it has settled charges against the Florida-based GQG Partners LLC, for entering into agreements with candidates for employment and a former employee tha

GQG Partners LLC, promoted by India-born Rajiv Jain, has agreed to settle charges relating to alleged violation of the whistleblower protection rules of the US Securities and Exchange Commission (SEC) by paying a US $ 500,000 civil penalty to the US regulator.

GQG Partners, the asset management firm founded by Rajiv Jain, has agreed to pay $500,000 to resolve allegations brought by the US Securities and Exchange Commission (SEC) regarding violations of whistleblower protection rules, media reports said.

The Securities and Exchange Commission of the United States has settled charges against Florida-based GQG Partners LLC, a registered investment adviser, for entering into agreements with candidates for employment and a former employee that made it more difficult for them to report potential securities law violations to the SEC.

US regulator hauls up the fund management giant for violating whistleblower protections by making staff sign overly restrictive non-disclosure agreements.

Without admitting or denying the SEC’s findings, GQG agreed to be censured, to cease and desist from violating the whistleblower protection rule, and to pay a $500,000 civil penalty, it said in a release.