Here's another article that I will paste the link this time so it'll be easier to read.
Madoff and the regulators: The case of an agency created to protect investors going awry
WASHINGTON (AP) -- Before his downfall in an alleged fraud that may end up costing investors $50 billion, Wall Street money manager Bernard L. Madoff circulated a promotional message extolling his service to clients.
http://biz.yahoo.com/ap/081221/madoff_scandal_sec.html