November 13, 2008

Subject: File No. S7-14-08

To the Securities and Commission:

I am John R Martin, CFP a member of the Financial Planning Association. I support the proposed Rule on oversight of the indexed annuity sales. I am a Certified Financial Planner since 1990. I have been in the investment business since 1985 as a stock broker, insurance agent, and currently an investment advisor and my firm is state regulated Registered Investment Advisor.

I recently lost a couple of clients to the indexed annuity due to a dinner they attended in El Paso, TX. The agent has placed all of their substantial IRA funds into an indexed annuity. I did my best to convince them not to commit all of their funds into this investment product. They sold their stock and mutual fund portfolio near the bottom of the current market taking losses.

I believe the rule is a reasonable and balanced approach for state enforcement. The aging population needs additional protection from aggressive sales agents. Consumers are often misled regarding the benefits of the indexed annuity. The surrender charges, liquidity risks and other suitability issues need to be addressed and are sometimes not explained. These and many more issues are the cause for more oversight.

Thank you,

JOHN R MARTIN, CFP