Subject: File No. S7-14-08
From: Holly Stimers
Affiliation: insurance salesperson

July 24, 2008

I oppose File No. S7-14-08. If this rule is put in to effect, insurance agents will have to be securities licensed in order to sell Fixed Indexed Annuities...problem is, FIA's don't even deal with securities/stocks/mutual funds directly.
Unlike securities, FIAs provide guarantees, no risk of loss, and downside protection for the principle amount invested.
I can totally understand SEC licenses being required for Variable Annuities because they deal with stocks and mutual funds, exposing the client to risk of loss...but FIAs don't...there is safety with FIAs.
I fear this rule, if put in effect, will create more red tape for insurance agents and companies.
Holly Stimers