Subject: File No. S7-06-13
From: Roger C. Wadsworth
Affiliation: National Director, The National Due Diligence Alliance

September 23, 2013

The National Due Diligence Alliance is a trade association of FINRA Broker/Dealers and Registered Investment Advisors:

We have reviewed the comments made by the Real Estate Investment Securities Association and the National Investment Banking Association and are in agreement with their comments.

Please consider our thoughts along with those of REISA and NIBA.

Thank You.