Subject: File No. S7-14-08
From: Must Read
Affiliation: 22 year insurance professional in Carmel Indiana

July 24, 2008

Regarding proposed rule 151A:

This is a big joke, right? Oh, oh it's not a joke? I wish it were my friends, I wish it were

Why does the SEC seek to extend it's jurisdiction over an already heavily regulated Insurance industry?
No Fixed Index Annuity owner has ever lost money due to poor strategy allocations.
The fact is that there are guaranteed minimum returns on each contract.
That's a MUCH BETTER guarantee than any SEC controlled and regulated Stockbroker can claim(would you believe this site won't allow me to use a much needed exclamation point here?)
These are the same weasels under attack for selling Variable Annuities to Seniors.
This proposed rule change is just a money power grab by the SEC and the Broker/Dealers to cut themselves in, and the Insurance industry out.

P.S. Perhaps the Insurance Industry as a whole should boycott and refuse to grant any and all insurance coverage (EO, etc.) to Stockbrokers and Broker/Dealers. We could arbitrarily refuse all Fixed Indexed Annuity sales from Broker/Dealers as a start. See if they know how hardball is REALLY played.
Just a Thought...