Subject: File No. S7-09-09
From: William G. Hammond, CFPģ
Affiliation: Hammond Investment Planning Corp

June 30, 2009

I urge you not to adopt the proposed regulations. I am a 1 person RIA and have enough regulation as is. The SEC has audited me before with no problems.

To add another layer of audits is a waste of time and money on everybodyís part.

Suggest that you not overact to the Bernie Madoff situation and now start over-regulating everyone. Remember that 99% of us are good people trying to do a good job for our clients. It is the other 1% you read about in the paper that cause un-necessary regulation on the rest of us.

There is no way to be 100% effective in keeping crooks out of our business. If someone is going to steal from clients they are going to do it weather you have a surprise audit or not. Please donít put an undue burden on the rest of us in trying to stop the 1% who are crooks.

Thank you