Describes the procedures followed by the SEC Madoff investigation; the report issued; results of the Madoff investigation; details on the final report that describes the Office of Compliance Inspections and Examinations (OCIE) examination process and the numerous ¿lessons learned¿ from its analysis, with specific recommendations to improve OCIE¿s operations; and a report that analyzes ¿lessons learned¿ from the investigations conducted by the SEC¿s Enforcement Div. of Madoff and prescribes concrete recommendations for improvement within Enforcement.

Oversight of the Securities and Exchange Commission's failure to identify the Bernard L. Madoff Ponzi scheme and how to improve SEC performance : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Eleventh Congress, first session ... September 10, 2009.

Oversight of the Securities and Exchange Commission's failure to identify the Bernard L. Madoff Ponzi scheme and how to improve SEC performance: hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Eleventh Congress, first session ... September 10, 2009.

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This investigation did not find evidence that any SEC personnel who worked on an SEC exam. of Madoff Invest. Securities, LLC had any financial or other inappropriate connection with Bernard Madoff or the Madoff family that influenced the conduct of their exam. work. It also did not find that former SEC Assist. Dir. Eric Swanson's romantic relationship with Bernard Madoff¿s niece influenced the conduct of the SEC exam. of Madoff. The investigation did find, however, that the SEC received more than ample info. in the form of detailed and substantive complaints over the years to warrant a thorough and comprehensive exam. of Bernard Madoff and BMIS for operating a Ponzi scheme. A thorough and competent exam. was never performed. Illus.