It's late August. Everyone you know is out of the office on vacation. Nothing big (or even medium-sized) is going on, anywhere, especially in the Enforcement Action world. But sit tight... because we are less than a week a way from a blockbuster.

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Get the Countdown Creator Pro widget and many other great free widgets at Widgetbox!In a letter dated June 15, SEC Inspector General H. David Kotz informed Congressman Paul Kanjorski that no later than August 31, 2009, his office would issue a comprehensive report

detailing all the examinations and investigations that the SEC conducted of Madoff or Madoff-related entities from 1992 until the present and analyz[ing] the reasons that the SEC did not uncover the Madoff Ponzi scheme notwithstanding these examinations and investigations.

Kotz noted that his office had already interviewed over 100 witnesses and reviewed millions of e-mails and documents in connection with this investigation. In addition, he said that his office had engaged outside consultants to assist with specific aspects of the case, including:

a consulting firm with expertise in the examination of broker dealers to assist the IG in determining whether SEC examiners missed red flags that should have alerted them to the Madoff Ponzi scheme; and

an expert in the areas of electronic data restoration and production to assist us in recovering electronic data, including emails, which had been deleted or corrupted from the SEC's Information Technology system to ensure that the IG captured all available e-mails from 1992 until the present.

So enjoy these last quiet days of summer, but be sure to tune back in on August 31, when the SEC's efforts in the Madoff matter will be revealed and scrutinized like never before.