Subject: File No. S7-14-08
From: Joel R. Adelman
Affiliation: CLU, ChFC Insurance Instructor

August 4, 2008

For over 20 years I had been series 7 Licensed by the NASD. I elected to discontinue my license, does that mean I must be disqualified from selling the fixed annuity, Indexed annuity?
The objective should be to permit qualified individuals with proper motivations to assist the public.
Simply having a FINRA license does not automatically protect the consumer.
The consumer is protected when State insurance departments regulate their licensed producers.
The consumer is protected when more carriers standardize their offerings.
This product is a fixed annuity its not a variable annuity.
Its not a Security.
NAIC can produce standards that the individual state insurance departments can inforce.
FINRA should regulate the sale of securities this product is not a security.