US COMMISSION OFFERS NEW FINANCIAL REGULATIONS IN WAKE OF MADOFF SCANDAL
May 1st, 2009
BY RUSSELL BERMAN
A SERIES of financial regulatory reforms have been proposed for the United States in the aftermath of the vast Ponzi scheme executed by Bernard Madoff - a failure of oversight and enforcement that led to steep criticism of the US Securities and Exchange Commission (SEC).
On May 14, the SEC announced new rules aimed at increasing investor protections and rooting out fraud. The proposed regulations, which must now undergo a 60-day public comment period, would require SEC-registered investment advisers who have custody of client assets to retain ...
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