Subject: File No. S7-14-08
From: Brent O gIROUX

September 4, 2008

Index Annuities are in fact not securities. This appears to be just another attempt by a government agency to expand its power and overregulate another product and industry.

All fixed annuities, whether indexed or not, have a component that allows for crediting of interest over and above the guaranteed interest rate. Does that mean ALL annuities must be classified as securities. I would think not.

I hope that the SEC reconsiders this ill thought out action and does not classify Fixed Index Annuities as securities.