The Madoff “Opportunity” Harmonizing the Overarching Standard of Care for Financial Professionals Who Give Investment Advice

Among the early fallout from the scandal involving Bernard Madoff’s Ponzi scheme and the general turbulence in the financial markets is a general recognition that the current bifurcated approach to regulating financial professionals who give investment advice—specifically, broker-dealers and investment advisers—may not be serving the
best interests of investors. In recent years,
changes...