November 13, 2008

Subject: File No S7-14-08

I am a member of the FPA and I support the proposed rule that would allow for SEC oversight of indexed annuity sales in addition to state oversight by insurance commissioners. As an investment advisor and insurance agent over the past 10 years, I have seen many cases where a client was sold an unsuitable equity indexed annuity. Liquidity risks, surrender charges and other suitability factors are not always clearly disclosed or understood. Equity indexed annuities are complex investments and consumers are often misled about the benefits of this product. I am in support of SEC oversight of indexed annuities.