A former hedge fund administrator has reached an agreement with the U.S. Securities and Exchange Commission that marks the first time the regulator agreed not to begin an enforcement action against an individual as a reward for cooperating in a probe. The SEC on Tuesday said it entered a deferred prosecution agreement with Scott Herckis, a certified public accountant from Stamford, Connecticut, for his "voluntary and significant cooperation" that helped halt a fraud by Berton Hochfeld, founder of the hedge fund Heppelwhite Fund LP. Hochfeld, 67, is serving a two-year prison sentence after pleading guilty last January to securities fraud and wire fraud counts, court and prison records show. Investigators said Hochfeld, a principal at Hochfeld Capital Management LLC in Stamford, who also had an office on Manhattan's Park Avenue, misappropriated more than $2 million from investors and inflated his fund's performance. The SEC said Herckis, the owner of SJH Financial LLC in Stamford,
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