Hedge fund advisory firm Paradigm Capital Management and its owner Candace King Weir have agreed to pay $2.2 million to settle Securities and Exchange Commission charges that the firm allegedly made prohibited principal transactions and then retaliated against the employee who reported the violation to the agency, the Wall Street Journal reports.
According to the SEC, this is the first time that the agency has filed a case under its new authority to bring enforcement actions against those who retaliate against whistleblowers.
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