Subject: File No. S7-14-08
From: Edward C Auble

August 25, 2008

Regulation in the insurance industry increases. A recent industry article indicated the high percentage of insurance agents dropping their securities licenses. The compliance requirements are becoming onerous. The requirements will increase - because it is the modus operandi of home office and SEC types - and even more agents will depart the equities arena. If indexed annuities are being sold improperly, let's require more CE and stronger punitive action for the transgressors. We don't need the SEC involved to accomplish this.