Subject: File Number S7-09-09 Proposed audit requirement

July 1, 2009

To Whom It May Concern:
I feel the proposed audit requirement for discretionary accounts creates an undue financial burden on advisors and firms with little chance of providing substantive additional protection to account holders of most fee based accounts. I feel this provision should be stricken from the new proposed regulations.

Bruce W. Davison, CFP
President
Strategic Financial Concepts, Inc.