Subject: SR-NASD-2004-183
From: Robert Edelstein
Affiliation:

August 5, 2005

Jonathan G. Katz
Secretary, Securities and Exchange Commission
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-9309

Jonathan Katz:

I am writing to convey my oppostion to the above numbered proposal by the NASD regarding additional reviews of varaible annuity sales.

Suitability requirements are already well established and can be enforced. Further requirements of this nature are not needed, will lead to "overkill" and add to supervisory costs. All of this could lead to many consumers who need these products staying out of good investment vehicles, thus jeopardizing their financial futures.

As an example; My office is located in a bank and most of our prospective clients have been (only) CD buyers their entire lives. They are very timid regarding risk-related products and shun the idea of investing in stocks or mutual funds.

The "new breed" of variable annuities, which offer minimum guaranteed living benefits, gives them the opportunity to invest "in the market" while providing the peace of mind they need. Additional "red tape" that could slow down the process and place more obstacles in their way is NOT in the public interest.

Thank you for your consideration

Sincerely,

Robert D. Edelstein