Subject: File Number S7-14-08

August 27, 2008

Florence Harmon
Acting Secretary
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-0609

Florence Harmon:

I am a licensed financial professional. I am writing to you because I do support the adoption of proposed Rule 151A, which would classify most indexed annuities as securities. There has been tremendous abuse in this area with incompetent and greedy insurance sales agents. They are not professionals in my view. They are driven by the incentive from the companies of huge commissions with years of penalities if they ever want to leave. They do not want to pursue continuing education or licensing to further themselves. It's a shame! They need the tough standards and regulation of the security industry. These vehicles are being sold as securities but under the guidelines as a guaranteed annuity products. High fees, high commissions and a very complex contract that no one understands, including the agents. The companies promoting this "garbage" should be ashamed of themselves. They are as much at fault as the insurance agents promoting this.

For these reasons, I urge the SEC to proceed with the proposed rule. By the way, I've never sold one and I never will under the current structure.

Thank you for your consideration of my views on this matter.

Sincerely,

Greg Krpalek, ChFC, CLU,