November 13, 2008
I have recently learned that the SEC has re-opened the comment period for the rule that would allow for SEC oversight of indexed annuity sales in addition to state oversight by insurance commissioners.
I am deeply concerned about the possibility of the SEC withdrawing the rule.
I have been a licensed Certified Financial Planner and insurance agent for 29 years and I support the rule as a means of helping to curb abusive sales practices, particularly aggressive and misleading sales tactics targeting the elderly.
Thank you, in advance, for taking my views into consideration on this issue.
Thomas G. Gaertner, CFP®
Senior Associate
MPC Financial Services