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He is accused of operating a multibillion-dollar Ponzi scheme from his investment advisory business, federal authorities said.
CNN: $10K statue stolen from Madoff's Florida estate
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The focus on benchmarks by the investment advisory business does its clients a disservice by setting up a false race.
FORBES: Investors Need To Make Money, Not Beat Benchmarks
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Small so-called independent investment banks like Evercore that largely focus on their advisory business have started to emerge as a new power on Wall Street in the aftermath of the financial crisis.
FORBES: Evercore's Roger Altman Taunts Goldman Sachs
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New Mexico later became embroiled in its own securities scandal after allegations that investment advisory firms paid kickbacks to state officials to get the business.
FORBES: State Lawyers Find New Berths At Outside Firms They Used To Oversee
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Madoff, 70, operated the advisory business separately from his Bernard L. Madoff Investment Securities, a securities broker dealer with its principal office in New York City, the Department of Justice said.
CNN: Former Nasdaq chairman charged with fraud
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"If we see a headline relating to the commitment of APEC leaders to accelerate the pace of liberalization and the removal of barriers to trade despite the turmoil, that would be a very good result, " says Robert Denham, chairman of U.S. investment house Salomon Inc. and a member of the APEC Business Advisory Council.
CNN: APEC Shortens Its Horizon
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However, we pointed out that Vanguard discloses all the investment advisory fees it pays and that such fees are at the very core of its business.
FORBES: More Worries for Defined Contribution Plan Fiduciaries (August 31, 2006)