September 3, 2008
Florence Harmon
Acting Secretary
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-0609
Florence Harmon:
I am a licensed insurance professional. I am writing to you because I SUPPORT the adoption of proposed Rule 151A, which would classify most indexed annuities as securities. I urge swift passage of this important proposal.
As an agent and registered representative, I have worked under the guidance and supervision of my company, my broker dealer and FINRA for 20 years. FINRA's oversight is fair and levels the playing field in the financial services and registered annuity business.I DISAGREE with one of the professional organization I belong to, the National Association of Insurance and Financial Advisors, and their stance against proposed Rule 151A. This rule is needed in the matrketplace now. NAIC guidelines don't regulate, they suggest. The marketing abuses in the marketplace today must stop and those of us who are FINRA registered representatives understand the need for the SEC and FINRA's intervention.
For these reasons, I urge the SEC to continue pursuit of this proposed rule. Thank you for your consideration of my views on this matter.
Sincerely,
David J. Grantham CFP(r)