Subject: S7-14-08

September 2, 2008

attn sec:I am totally upset over this new proposed regulation.I have been licensed in insurance 43 years professionally assisting 100's of clients with safe indexed fixed annuities.no one has ever lost any money!furthermore the insurance commissioners regulate and do a good job at that weeding out the corrupt agents that sell them the wrong way.suitability forms are meticuosly completed and reviewed.various liquity option are provided as well.the only annuities that you should regulate are the variable annuities sold by registered brokers!they are the ones that lose money and have the highest fees that are most times not even properly explained by brokers at the time of sale.they are the ones you should be better managing that are effecting many retired citizens.don't put all the good insurance agents out of business for the sake of a few bad apples in the industry.penalize the brokers in your industry instead.all my clients are happy with what I have done for them on an ongoing basis.let's keep it that way.sincerely,john f. smart.