Subject: File No. S7-14-08
From: Shane Tenny
Affiliation:

November 13, 2008

I am writing in support of the proposed rule for the SEC to regulate the sale of indexed annuity products. As a CFP, member of the FPA, and 9 year financial advisor I am shocked this policy has not been adopted sooner for the protection of the American public. While these products may have their place in serving consumers, far too often they are mis-represented to the public and, frankly, misunderstood even by the insurance agents who represent them.

My wife's own grandfather was talked into purchasing one 12 years ago as part of a credit shelter trust plan and has been dismayed to see the value evaporate before his eyes despite the promise it could "never lose money". I know he is just one representative among many who have purchased these products only to find that they, and the insurance agents who sold them, didn't really understand how they work.

This year has been another living testimony to the results of poor regulation. Please intercede in the indexed annuity arena before more people are caught off guard.

Shane Tenny
CERTIFIED FINANCIAL PLANNERTM Professional
Spaugh Dameron Tenny