September 4, 2008
File S7-14-08
How can they consider changing the staus of Insurance products specifically Indexed annuities and have them regulated by the SEC? This is utterly ridiculous. Because a product has the word Indexed attached to it does not make it a securities product. Unless the actual investment is traded or sold in the SP or the DJIA and has the ability to make the gains and the losses associated with these types of investments it in no way, shape or form should be associated with or regulated by the SEC. This just appears to be another way for Government to get fee's for licensing and to over regulate our abilities to make a living. If and when these programs invest monies directly or indirectly into a market like Variable annuities and mutual funds then put their regulation under the SEC, but until that time leave them alone. If every new innovation that the American public devises is to be scrutinized and challenged years after it's development and implementation and now regulated by a different body then the spirit of growth and development in this country will be detered and wither because of some idiot having nothing better to do with their time then to tear down what has already been put into place and proven to work. This will also close the door or hinder the ability of an investor to make their own decisions on what type of programs and products they feel are good for themselves without additional government interference.