Subject: File No. S7-14-08
From: Olga T Sweeney
Affiliation: Insurance Agent

September 10, 2008

September 10, 2008

I am a licensed insurance agent in the state of Maryland.
I am concerned that my livelihood and business as an
insurance agent may be greatly impacted by the proposed rule 151A recently published by the Securities and Exchange Commission. I am aware that you are seeking comments on this rule by today. 151A focuses on fixed index annuities, which are fixed annuities regulated by the state department of insurance and sold by licensed insurance agents. The SEC is seeking to require that all fixed index annuities become registered products sold only through a broker-dealer and not by insurance agents. The rule adds no consumer protections not already provided by state insurance regulation and would in fact undermine many state initiatives concerning sales practices. On behalf of myself, policy owners, and our industry I feel that Fixed Indexed Annuities are insurance products that protect our customer's retirement dollars, not a market risk security.
Thank you for looking into my above concerns.
Sincerely,
Olga T. Sweeney