Subject: File No. S7-14-08
From: Ralph Hicks
Affiliation: Diversified Financial , LLC

August 25, 2008

Indexed Annuities should not be regulated as securities because,
#1 The consumer is safe and cannot lose principle
#2 The consumer cannot lose interest credited in previous years
#3 The consumer is given an underlying interest guarantee required by state law.
The SEC's proposed rule will not benefit savers because it will reduce the number of agents who can offer a product that is beneficial to so many, and give Broker / Dealers the ability to supress a valuable and successful form of retirement savings.
As an agent who works primarily with seniors, I believe concerns of the S.E.C. should be to see that Securitiees sals-people QUIT putting seniors at risk where they lose their life's accumulated saving's, ie: pension's, 401k's, investments accounts, Thank you.