David Kotz, inspector general of the U.S. Securities and Exc

UNITED STATES - JANUARY 05: David Kotz, inspector general of the U.S. Securities and Exchange Commission (SEC), testifies at a House Financial Services Committee meeting on the Madoff Ponzi scheme, in Washington, D.C., U.S., on Monday, Jan. 5, 2009. An SEC investigation into its failure to stop Bernard Madoff's alleged $50 billion Ponzi scheme seeks to determine whether his clout and relationships with regulators let his activities remain undetected for at least a decade. (Photo by Brendan Smialowski/Bloomberg via Getty Images)