Making up for Madoff

US financial regulatory reform is under urgent consideration in the aftermath of the vast Ponzi scheme executed by Bernard Madoff – a failure of oversight and enforcement that led to severe criticism of the Securities and Exchange Commission (SEC) [1]. Russell Berman in Washington DC examines the control fall-out from probably the world’s biggest fraud.

On 14 May, the SEC announced new rules aimed at increasing investor protection and rooting out fraud.