Subject: File No. S7-14-08

October 16, 2008

With regard to the proposed rule on indexed annuities I would like to go on record that I object to the idea of the SEC sharing oversight over indexed annuities with state regulators as these products are CLEARLY INSURANCE ARRANGEMENTS and NOT securities. Therefore they should not fall into the jurisdiction of the SEC or other securities.

Further, with our current economic condition I find it ironic that the securities regulators along with other securities licensed agents now want to control indexed annuities. Could it be they are nervous about the offerings that they have to offer and want to lock out insurance agents from selling a product that is now being looked upon as a solid way to help clients? Could it be they want to be the only ones that can earn a commission selling this product since they are struggling with selling other security related products during these difficult times?

Insurance sales people have a tough enough time getting the general public to value them and the products they offer. Many people seem to put insurance sales people just above that of a used car salesman. I think it would be a travesty to take away a good, solid insurance product such as an indexed annuity simply because because the SEC wants to control these products and who can sell them. The insurance industry is already regulated and proper controls are in place to be sure that the products insurance agents sell and promote are solid products that are sold in an ethical and proper fashion.

I see no need to pull indexed annuities under the regulatory eye of the SEC.

Sincerely,

Sue Schrampfer, CPA
Career Agent
Wisconsin Financial Group, Inc.