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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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.