Subject: File Number s7-09-09

July 16, 2009

Dear SEC,

Please do not over-react to the recent Sanford and Madoff scandals. If you want to step up the audits for those firms who do self-custody of client's assets, fine.

Those third-party firms who handle the custody of assets do a good job of client reporting already. If those firms are scrutinized a little more, that is fine too.

For those of us who do not have custody of client assets, the onerous audit's that are being proposed for financial advisors will hurt our business and cause us to raise client fees to offset the costs associated with unnecessary CPA audits.

At the individual advisor level, it will just waste our time / resources, and reduce the amount of time we can devote to handling legitimate client concerns.

Jeff ~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Jeffrey S. Markewich
Markewich Financial Group