Subject: SEC Proposed Rule 151A - File Number S7-14-08

August 31, 2008

To whom it may concern at the SEC:

Please work to reject SEC Proposed Rule 151A. As an insurance broker for 5 years, in the business of helping people with Medigap, health, life, long term care and annuities, I have come across many people who have complained that their licensed financial advisor did not do a good job or did a bad job of protecting and growing their nest egg. Often they suffered losses that they will never recover from.

Please consider these 2 points:

1) If the bill is passed it will eliminate a level of consumer protection. There are unscrupulous Financial Advisors and there are unscrupulous Insurance Brokers. But if a consumer trusts a reputable insurance broker but can only get annuity advice from his equally trusted F/A who later turns out to be dishonest or incompetent, that consumer is likely to risk their entire life savings. If the bill is rejected at least the portion of the consumer's finances that went to an annuity would be protected.

2) The real impetus behind this bill is the win fall Profits that the Financial Investment sales industry stands to gain through the elimination of its insurance broker competition.

Sincerely,

William B. Eager