Regulators in charge of monitoring the bankrupt futures brokerage Peregrine Financial Group missed warning signs as far back as 1994, according to an independent report released on the same day Peregrine’s founder was sentenced to 50 years in prison.

http://hereisthecity.com/2013/02/04/regulators-missed-peregrine-warning-signs-as-early-as-1994-repor/