November 14, 2008

Subject: File No. S7-14-08

I am writing as a member of the Financial Planning Association (FPA) and also a Registered Representative, General Securities Principal and an insurance agent with over 25 years of experience.

I support the rule allowing SEC oversight of indexed annuity sales. Over the years, I believe that insurance have been flying under the radar by being allowed to sell securities-based products like indexed annuities and not having the federal oversight that Registered Representative have. I have seen abusive sales practices from insurance agents who are either dishonest or uniformed. When clients have come to me asking me explain what they purchased, they find that they either have been mislead by agent or the product was not explained to them in a manner which they could understand.

Thank you,

Karl

Karl G. Smrekar, Jr., CFP®
Allegheny Financial Group
Stone Quarry Crossing