In 2009, the Project on Government Oversight, a political authority watchdog cluster, dispatched a letter to Congress criticizing the SEC for faulting to use further compared to fifty per cent of the suggestions produced to it by its Inspector General. According to POGO, in the previous 2 years, the SEC had taken no activity on 27 out of 52 suggested improves proposed in Inspector General outlines, and nevertheless had a ‘pending’ condition onto 197 of the 312 suggestions produced in review outlines. Some of the suggestions contained imposing castigating activity on SEC staff members whoever obtain amiss gifts either different prefers from monetary businesses, and researching and informing the triggers of the disappointments to notice the Madoff Ponzi artifice.
In a 2011 item by Matt Taibbi in Rolling Stone, erstwhile SEC staff members remained interviewed and remarked negatively on the SEC’s Inspector General’s bureau. Going to the OIG was ‘well-known to be a career-killer.’
Because of worries raised by David P. Weber, erstwhile SEC Chief Investigator, considering administration by SEC Inspector General H. David Kotz, Inspector General David C. Williams of the U.S. Postal Service was accompanied in to administration an autonomous, external probe of Kotz’s supposed amiss administration in 2012. Williams concluded in his 66-page Report that Kotz infringed ethos commands by overseeing probes that contained folks with whom he had conflicts of attention expected to private connections.” The outline interrogated Kotz’s work on the Madoff research, amid other ones, since Kotz was a ‘very high-quality friend’ with Markopolos. It concluded that when it was Unclear as Kotz and Markopolos grew to be acquaintances, it ought to have infringed U.S. Ethos commands if their connection started beforehand either throughout Kotz’s Madoff research. The outline as well noticed that Kotz himself ‘appeared to have a clash of interest’ and ought to not have unlocked his Standford research, since he was acquaintances with a female assignee whoever characterized sufferers of the fraudulence.