Subject: File No. S7-23-11
From: Naphtali M Hamlet
Affiliation: ivestor

June 22, 2011

Audits at the broker level need to be done in order to hold these brokers accountable to the share holders and investing public. The brokers need to do audits in order to do good business practices. Unfortunately self regulation is impossible since we live in a imperfect world. There will always be people out there who try to buck the system. And regulation helps to keep that at a minimum. Audits are a great way to see what is going on at the broker level.