Subject: File No. S7-08-07
From: Denise Dolphin

June 8, 2012

It would be my suggestion that the Broker-Dealers be required to:
Provide a client with a worst case scenerio sample statement of what could happen to the variable annuity that is being recommended to them.

Disclose to the client a copy of the contract of the variable annuity for their review prior to them opening the account.

Once a variable contract is received then the Broker-Dealer should meet in person (if possible) and go over the contract in detail to make sure the contract is in terms the client can understand.

Have the customer sign an acknowledgement up front that the broker-dealer informed them that a 20 day state mandated free look period exist where they can choose to back out of the variable annuity and the broker-dealer will meet with them during that free look period to make sure everything is as the broker-dealer said.