Subject: File No. S7-14-08
From: Patrick K Moriarity
Affiliation: Certified Financial Planner

September 3, 2008

Greetings,

I am in support of your proposed requlation requiring a securities license for agents wanting to sell index annuities. Yes, I acknowledge that index annuities are not a security product, however they are being sold as one. Plus if the unlicensed agent is recommending liquidating mutual funds to buy the index annuity, he is giving securities advice. Hence, the agent should have a securities license and be regulated.

Best wishes in your endeavors,

Patrick Moriarity
Registered Representative
offering securities through Broker Dealer Financial Services Corp. member FINRA SIPC