“This report is required by the Inspector General Act of 1978, as amended, and covers the work performed by the OIG during the period indicated. The reporting period was a very eventful and productive one for the OIG. On December 16, 2008, former SEC Chairman Christopher Cox asked me to undertake an investigation into complaints made to the Commission regarding Bernard L. Madoff, who was arrested on December 11, 2008, for running a Ponzi scheme. Former Chairman Cox asked that the OIG investigate the reasons that allegations made to the SEC about Madoff were found to be not credible. Former Chairman Cox also requested that the OIG investigate all staff contact and relationships with the Madoff family and firm and any impact such relationships had on staff decisions regarding the firm. Early on December 17, 2008, we opened an official investigation into the Madoff matter and, since that time, have made substantial progress in the investigation.”
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