Subject: File No. S7-14-08
From: Brian P Nauman

October 25, 2008

I am opposed to proposed rule 151A. This proposed rule does not provide any benefit to the consumer. In fact, it may end up hurting consumers. In this economic environment, investors haven't lost any money in a fixed index annuity. This should prove that a fixed index annuity product isn't a security, therefore there is no need to make it a registered security product.