Subject: File No. S7-14-08
From: Philip A Colletti
Affiliation: Registered Rep with the NASD, Series 7, 24, 55, 63 also, my Life Health Insurance Licenses

July 10, 2008

Is this a joke? Fixed annuities haven't anything to do with the volatility of the market. Why should this rule be necessary? Hasn't the SEC anything better to do with there time besides thinking of rules that haven't anything to do with the stock market. They should be trying to make it a little easier on the registered reps, so they can earn a living. Instead, they've taken almost every convinience away from us. This rule is not pertinent and, the SEC shouldn't have the authority to make this Rule 151a effective. Instead, if this decision is to be made,it should be done by Superintendent of Insurance, NOT THE SEC