From: Anonymous
Sent: Tuesday, August 15, 2006 3:51 PM
To: Rule-Comments
Subject: SR-NASD-2004-183

Hello and thank you in advance for reading my note. I am a financial services professional since 1979 possessing both my NASD Principal (24), securities with variable annuity license (7), insurance, possess my CFP(R) designation.

We just completed a routine NASD audit during which I was questioned (more like on trial and assumed guity!) by non licensed NASD employees as to the suitability methods used during my last 6 variable annuity sales. I find the NASD proposed rule's requirements to be redundant, unnecessary, will provide no meaningful additional protection to consumers. Of course, as usual the NASD rule changes will adversely impact my business. I urge the SEC to disapprove the proposal. Proposed Rule 2821 duplicates current supervision and suitability requirements that are already in place. NASD rules (including Rule 2310) already contain suitability requirements that apply to all sales of securities, including variable annuities. If regulators really want to protect consumers, appropriate enforcement of the existing suitability rule rather than adopting a new rule is the answer.

As a licensed Principal I find that the proposed rule deviates in several significant ways from the general supervision requirements found in Rule 3010. This requirement appears to present a bias against these products, and will lead to constant second guessing of my advice and recommendations (based upon less first hand information than was available to me).

Please do not support this proposal. Thank you for your consideration of my views on this matter.