Summary of HUDSON HOLDING CORP

Changes in Registrant's Certifying Accountant, Financial Statements and Exhib

Item 4.01. Changes in Registrant's Certifying Accountant

Effective October 17, 2008, Hudson Holding Corporation (the "Company") dismissed Eisner LLP ("Eisner") as our independent registered public accounting firm and appointed Marcum and Kliegman LLP ("M&K") as our new independent registered public accounting firm for the fiscal year ending March 31, 2009. Our board of directors, upon recommendation from the Company's audit committee, approved the dismissal of Eisner and the appointment of M&K as the Company's new independent certified public accounting firm.

During the Company's two most recent fiscal years ended March 31, 2008 and 2007, the audit reports of Eisner did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles.

During the Company's two most recent fiscal years ended March 31, 2008 and 2007 and any subsequent interim period preceding such dismissal and through the date of this Current Report, there were: (i) no disagreements between the Company and Eisner on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of Eisner, would have caused Eisner to make reference to the subject matter of the disagreement in their reports on the Company's financial statements for such years, and (ii) no reportable events within the meaning set forth in Item 304(a)(1)(v) of Regulation S-K.

We provided Eisner with a copy of the foregoing disclosures and requested Eisner to furnish us with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the above statements. A copy of Eisner's response letter, dated October 20, 2008, is attached as Exhibit 16.1 to this Form 8-K.

During the Company's two most recent fiscal years, and any subsequent interim period prior to engaging M&K, neither the Company nor anyone on behalf of the Company has consulted with M&K regarding either:

1. The application of accounting principles to specified transactions, either completed or proposed or the type of audit opinion that might be rendered on the Company's financial statements, and neither was a written report provided to the Company nor was oral advice provided that M&K concluded was an important factor considered by the Company in reaching a decision as to an accounting, auditing or financial reporting issue; or

2. Any matter that was either the subject of a disagreement or a reportable event, as each term is defined in Items 304(a)(1)(iv) or (v) of Regulation S-K, respectively.