Mary Hanratty
August 27, 2008
Florence Harmon
Acting Secretary
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-0609
Florence Harmon:
I am a licensed insurance professional. I am writing to you because I FULLY support the adoption of proposed Rule 151A, which would classify most indexed annuities as securities.
In my opinion indexed annuities SHOULD be required to be sold by registered and only variable and life licensed individuals. The ridiculous products with extensive surrender periods should never have been allowed to have been put on the market - 15 years starting at 15% surrender????? The individuals who sell these are unscrupulous and if they were required to be licensed with the threat of sanctions etc the market place would be a safer world for the consumer. I am not one for big government but securities investments need to be governed and should be sold by licensed individuals to protect the innocent and unknowing consumer.
Thank you for your consideration of my views on this matter.
Sincerely,
Mary Hanratty