Subject: File No. S7-14-08
From: Michael E Holmes
Affiliation: LUTCHF, Kansas State Graduate in Marketing

July 29, 2008

Jack, Elmo, Larry
I have received an email from one of my companies that released the information on this drastic move by the SEC. What a tragedy of injustice.

I believe that we have a nightmare being saddled by the SEC. They are pretending that the Indexed annuity is an active investment in a stock purchase. You know as well as I that it is a lie. The SEC needs to allow the insurance companies a few tools to divert the problem. We need to see what we can do about deregulating some of the SECs authority. Is this the example that they want us to follow? We are trying to play by the rules on a level playing field and they are wanting to make their own rule on false assumptions. I see more regulation and a bigger cost to the consumer with a severely restricted way to obtain these policies. They are policies they are not stock market purchases. Please help in the endeavor to limit SECs authority if they continue to persist in this blinded maneuver to control the money in their arena instead of letting the average agent have their chance to market it.
Mike Holmes