Subject: File No. S7-14-08
From: Igor Shaykevich
Affiliation: RIA

July 29, 2008

Securities industry is opposing indexed annuities only because they are loosing business to them. It reminds me of the time when banks couldn't sell annuity products and bankers were opposed to annuities and talk down on them but as soon as banks were allowed to sell annuities they became a legitimate product to them. This is not a concern about clients - this is elimination of competition.