Subject: File No. S7-14-08
From: Roy P Laux

July 15, 2008

Fixed products such as FIA's need to regulated and safety nets need to be in place for the consumer. Both of these issues are already in place with all fixed insurance products such as FIA's and provided by the insurance departments in each state.

In the past you have reviewed, requested they be under your authority and been repeatedly told they are fixed products. Please focus on the variable side of the equation and leave the fixed alone.