“The SEC’s order finds that GQG violated whistleblower safety Rule 21F-17(a), which prohibits any motion to impede a person from speaking straight with the SEC workers a few potential securities legislation violation,” SEC stated.
With out admitting or denying the SEC’s findings, GQG agreed to be censured, to stop and desist from violating the whistleblower safety rule, and to pay a $500,000 civil penalty, it stated in a launch.
The regulator has charged GQG for getting into into agreements with candidates for employment and a former worker that made it tougher for them to report potential securities legislation violations to the SEC.
In response to the SEC’s order, from November 2020 via September 2023, GQG entered into non-disclosure agreements with 12 candidates for employment that prohibited them from disclosing confidential details about GQG, together with to authorities businesses.The SEC’s order finds that GQG additionally entered right into a settlement settlement with a former worker whose counsel had advised GQG that she or he meant to report alleged securities legislation violations to the Fee. “Whether or not via agreements or in any other case, companies can’t impose limitations to individuals offering proof about potential securities legislation violations to the SEC, as GQG did,” stated Corey Schuster, Co-Chief of the Division of Enforcement’s Asset Administration Unit.“Even agreements that include carve-out language permitting individuals to voluntarily report back to the SEC may be violative if restrictive language in a separate provision impedes voluntary reporting to the Fee workers.”
