June 30, 2009
To whom it may concern:
I strongly oppose the SEC's requirement for all RIAs to have to have a mandatory audit each year. One famous crook (Madoff), who largely held himself as a broker/dealer should not enforce a costly crackdown on Registered Investment Advisors into perpetuity. Lastly, if a mandatory audit is performed on behalf of the SEC, the SEC should bear the whole cost of the audit and not the firm in question.
Sincerely,
Blake P. King (FPA member)