According to reports, SEC Inspector General David Kotz has sent his report detailing the Bernie Madoff Ponzi scheme and how the agency failed to detect the massive fraud to Chairman Mary Schapiro.

The report is said to be 450 pages long and contain more than 500 exhibits. It supposedly details the many tips the SEC received and information related to Harry Markopolos and his complaints to the agency.

The report will be reviewed by all five SEC commissioners before it's expected to be released to the public later this week.