Subject: File No. S7-14-08
From: John Thorne

July 14, 2008

This is no joke? As a Senior that has been licensed since 1967 I am not suprised at your actions. I have seen other examples of your regulations (for the protection of the Seniors). I remember when you took away the Reciprocals from the Small Broker Dealers. You basically put them out of business in the name of protecting the public. Fixed annuities haven't anything to do with the volatility of the market. Why should this rule be necessary? Hasn't the SEC anything better to do with there time besides thinking of rules that haven't anything to do with the stock market.

You should be trying to make it a little easier on the registered reps, so they can earn a living. However, if the truth should be known, I find that the Brokers FAIL to point out a lot of information when selling a "VARIABLE ANNUITY". When I speak to most of the older Seniors, they don't have a clue about what fees and expenses are HIDDEN from them in their VARIABLE ANNUITY. WHY DON"T YOU CONCERN YOURSELVES WITH PROBLEMS IN YOUR AREA OF EXPERTISE? The Corrupt Registered Brokers, who PUSH their product on to the Seniors in the Florida area are getting away with tiddy sums. I could name a few that I have encountered in the Florida area.

This rule is not pertinent to this product and, the SEC shouldn't have the authority to make this Rule 151a effective. Instead, if this decision is to be made,it should be done by Superintendent of Insurance, NOT THE SEC or NASD.

I remember when the SEC/NASD took all the products away from the Commerical Banks because they were accused of the same mis-practices only 20 years later to give them back the right to conduct business the same way they did in the 50's. If you think Insurance agents are bad, the banks don't know anything about selling Annuities but they are not being targeted.

I bet if you follow the money, the driving force for this rule is the LOBBYIST who works for the Broker Dealers.

This is pushed in the name of protection for the Seniors.

As a Senior, I own five Fixed Indexed Annuities, not one is a Variable Annuity and my wife and I have not lost one cent as the MARKET tumbles out of bed. How many Variable Annuity owners can say the same about their Annuities? I guess I bought the "WRONG" product to protect my family.

God bless and have a gereat day.