SEC shows leniency to former hedge-fund administrator in a first for agency – The Washington Post

A former hedge-fund administrator will get a break for helping the Securities and Exchange Commission uncover fraud at the fund, an agreement that marks a first for the agency and makes use of a concept pioneered by its current chairman decades ago.

The SEC announced Tuesday that it will forego significant enforcement action against Scott Herckis because he flagged the agency to misconduct that fleeced investors of $1.5 million.

via SEC shows leniency to former hedge-fund administrator in a first for agency – The Washington Post