Subject: File No. S7-14-08
From: Lois B Young
Affiliation: CLU, ChFC

July 10, 2008

yes, it is important that fixed annuities be sold by licensed and trained representatives in order to protect the older investors from the replacement and/or improper investment sales practise of untrained people from all
sectors-insurance-banks-etc. All should have training and be supervised and regulated.