NRI Rajiv Jain's GQG to pay $500,000 penalty to settle US SEC charges
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US-based NRI investor Rajiv Jain-led GQG Partners, best known in India for investing in Adani stocks, has been charged by the US Securities and Exchange Commission (SEC) for allegedly violating whistleblower protection rules. The boutique investment firm has agreed to settle charges by paying a $500,000 penalty. "The SEC’s order finds that GQG violated whistleblower protection Rule 21F-17(a), which prohibits any action to impede an individual from communicating directly with the SEC staff about a possible securities law violation," SEC said. 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. The regulator has charged GQG for entering into agreements with candidates for employment and a former employee that made it more difficult for them to report potential securities law viola...