November 19, 2008

Subject: File No. S7-14-08

SEC:

It has been brought to my attention that the SEC has re-opened the comment period for the above referenced rule that would allow for SEC oversight of indexed annuity sales. My name is James Kearney, a Certified Financial Planner (TM) and Certified Trust and Financial Advisor, a principal in an independent SEC-registered RIA, and member of the Financial Planning Association (FPA), where I currently serve as Chairman of the New Jersey Chapter.

I strongly support this proposed rule.

I have been advising individuals on personal financial issues for more than 15 years, and consider myself an experienced financial planner. I have always acted in a fiduciary role, put my clients' interests first, and disclose any conflicts of interest.

Over the years, I have come across numerous clients who were sold inappropriate insurance products, including annuities that are not suitable for them. I support any effort to better oversee the sale of these products, for the following reasons:

-the rule is a reasonable and balanced approach to enhancing state enforcement efforts -the vulnerable aging population needs additional protection from aggressive sales agents -consumers are often mislead regarding the benefits of an indexed annuity -liquidity risks, surrender charges, and other suitability factors are not always clearly disclosed or understood not all states have adopted suitability standards for annuity sales, nor do most insurance commissioners have adequate enforcement resources available -some agents misrepresent themselves as offering a single retirement solution when in fact retirement planning is generally a complex planning process

I appreciate the opportunity to share my opinion with the SEC.

Sincerely,

James E. Kearney

James E. Kearney, CFP(r), CTFA
Quadrant Capital Management, LLC