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INDUSTRY Trends/Developments

Madoff’s Fraud Ushered in Changes to Secretive Hedge Funds

Bernard Madoff’s sordid legacy remains the stuff of headlines. But his fraudulent scheme altered -- and transformed -- the hedge fund industry.

As fund lawyer Steven Nadel at Seward & Kissel LLP put it in a recent interview: “Madoff was a huge wake up call for the entire asset management industry.”

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