Subject: File No. S7-09-09
From: Bruce Kitchin

May 30, 2009

I am in favor of this rule since recent abuses and frauds where alledged securities didn't really exist when the time of reckoning occur. The people of this country who more and more use investments for retirement funds need this protection from fradulent and unsavory people that have cheated some of us out of our retirement monies.