Madoff fraud to spur offshore regulatory changes

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The alleged $65bn Madoff fraud has damaged the offshore fund industry's credibility and spurred on the regulatory changes that have been promised by authorities, according to International law firm, Appleby.

The ponzi or pyramid scheme scandal has rocked Bermuda, the British Virgin Islands plus the Cayman Islands and has damaged the credibility of the fund industry's responses to those who sought to blame...

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