Will Prickett Quoted in On Wall Street
"Calls for New Rules After Madoff"

Will Prickett was quoted in the article, "Calls for New Rules After Madoff,” which appeared in the February 1, 2009 issue of On Wall Street. The article discussed how there has been increasing support among investment advisors to formalize business practices governing the handling of client assets as a result of Bernard Madoff's alleged Ponzi scheme. Specifically, some are calling for client assets to be handled by outside custodians. Others say the Securities and Exchange Commission needs to step up its oversight and enforcement. Will noted that although it is a common practice among SEC-registered investment advisors who handle investor assets through a third-party custodians to name the custodians on documents filed with the SEC, making it mandatory would instill more confidence. The article also highlighted Seyfarth's recently launched cross-disciplinary team to address the Madoff fraud crisis, which is co-led by Will and Brian Cousin.