Subject: File No. S7-14-08
From: Robert R Ow
Affiliation: Registered Principal

June 27, 2008

I fully and completely support federal regulation of indexed annuities and those that sell them.
Unlike many stock brokers in the industry, I come from an insurance background and have known many people in the life insurance/annuity business. In my 27 years of experience I have seen several registered representatives drop their registration but continue as an insurance agent. Without exception, these agents would take advantage of their clients gullibility and sell them "garbage" annuity contracts that are inappropriate under ANY circumstance. I believe that the financial abuse that has happened to elders has been profound because of the sales practices and products that have been sold because of inadequate regulation of indexed annuity products. Additionally, I believe that all life insurance agents and all life insurance companies should be held accountable under SEC regulations. Regulating indexed annuities is a good start.

Sincerely
Bob Ow