Subject:Public Submission s7-14-08

July 7, 2008

I am STRONGLY in favor of having EVERYONE who sells INDEX annuities SECURITIES licensed. They are complex products, each with different guidelines for making a profit (points, caps, etc) Since the market IS INVOLVED - and the advisor has to pick the index the money is invested in - they need to know and understand securities. If you required that the COMMISSIONS be lowered on the product also, I think it would not be as popular for brokers. Too many times have I come across clients and prospects who were NOT told all the disclosures about Index Annuities and are sorry they ever agreed. The fact that the surrender charges are high and very long make it impossible for someone to change their mind and not lose a SUBSTANTIAL amount.

Sincerely,

Lynn Rockwell
Series 7 Advisor
New Jersey - Board Member of South Jersey NAIFA