Subject: File Number S7-09-09

July 6, 2009

I am an financial advisor and co-branch manager with a federally registered RIA. I am opposed to the requirement in the proposed amendments to the custody rule that would subject investment advisers to a surprise audit by an accounting firm. If this proposal is being driven by the Madoff scandal, I have the following observations:

This is not a good rule and appears to be a knee-jerk reaction to an unrelated event.

Best Regards, Terry Pender.

Sincerely,
Terry Pender, CFP , CPA
Financial Advisor