Subject: File Number S7-09-09

July 7, 2009

To whom is may concern,

I am a Financial Planning Association (FPA) member and an SEC-registered investment adviser. My partner and I hold the Accredited Investment Fiduciary, Certified Financial Planner™ and Chartered Life Underwriter designations. We run a small financial planning and investment advisory practice in Houston, Texas. We are absolutely 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. We have never had as much as a complaint and run our practice as cleanly and ethically as we possibly can. The proposed regulations punish ethical advisors such as ourselves but will do little to stop the Madoff’s of the world. Madoff and all the other now uncovered ponzi and other criminal schemes existed long before the stock market meltdown and will likely continue to exist in the future. The market meltdown only made the tide go out for a short time so we could see who was swimming naked. Specifically:

In order to enhance consumer protection, I would support Congress appropriating additional resources to the SEC to hire and train additional examination staff to increase the regular audit cycle of investment advisers. Thanks so much for your time and consideration in this manner.

Kurt Box, CFPÒ, AIF, MS
Cypress Advisory Services, Ltd., L.L.P.