August 24, 2004
RE: Exemption of B/Ds from IAA 1940.
Dear Commission,
It is unconscionable to me that a regulatory body charged with the critically important responsibility that you have been given, would create a lower standard of conduct for a group of professionals B/Ds and RRs who are already ethically challenged. These are the same people who are pushing variable annuities with Guaranteed 7 returns over ten years.I cant understand where you are coming from anymore.
WITHDRAW the exemption of Broker/Dealers from IAA 1940.