Subject: File No. S7-14-08
From: David jones, PhD

August 23, 2008

I am in favor of regulating Indexed Annuities. I have been an insurance agent for a number of years, and have seen firsthand the abuse in marketing and recommendations of these annuities when they were not appropriate for the purchaser. Many agenta are simply selling them for the commission with no regards for what they do to the client. I feel Securities licensed reps have the training to offer financial advice. They are also much more strictly supervised to ensure that fiduciary duty has been properly applied to protect the purchaser.
I know you are being overwhelmed by insurance agents opposing this regulation because they do not want to go through the training and licensing to be able to properly market these annuities. Please be firm and confident that this rule change will only protect the purchaser. The insurance agents that want to continue marketing these products will obtain the training and licensure. The ones who were simply peddlers will find other products to peddle or hopefully find another profession altogether. Do what is right for the purchaser. Please do not give in to the insurance lobby.

Have a Blessed Day