From: Craig W. Dolan
Sent: July 13, 2006
To: rule-comments@sec.gov
Subject: File No. SR-NASD-2004-183


Nancy M. Morris, Secretary
Securities and Exchange Commission
Washington, DC 20549-9303

Ms. Morris,

Hello from a fellow proud American. Thanks for allowing me to comment. I am in the insurance industry, but we do not sell Variable Annuity Products.

Regarding the NASD proposed rule (2821) to impose specific suitability and principal review requirements, I oppose this on the grounds that this is duplication of effort. There are sufficient rules in force now. We need strict enforcement of these rules. Adding another step in the process will only impede efficiency of processing which makes the system less cost effective and more expensive for the public. I am for stringent punishment and prosecution of those who engage in misleading sales practices. These people give me a bad name as well.

This proposed rule does not resolve this problem. Punishment for offenders would do much to curb abusive practices.

Thank you for considering my opinion.

Sincerely,

Craig W Dolan
Federated Mutual Insurance
cwdolan@fedins.com
507-455-5569