November 14, 2008
Ladies & Gentlemen:
I am a licensed insurance agent as well as a registered representative, investment advisor representative and certified public accountant. I am also a 15 year member of the FPA. I believe that equity indexed annuities meet the definition of a security just as a corporate bond or variable annuity do. Insurance agents are marketing the products without the requisite understanding of how they work -- they are not just like fixed annuities with a market upside!
Please add my name to the list supporting recognition of EIAs as securities subject to the resulting oversite and regulation.
Thank You
Larry J. Rose, CPA/PFS, AEP