Subject: File No. S7-14-08
From: Timothy A Jones
Affiliation: FINRA Registered Representative

July 10, 2008

I welcome the proposed rule change.

It is about time that index annuities which masquerade as fixed insurance products be equally regualted with other equity investments.

The insurance industry has brought increased scrutiny and regulataion on themselves by creating such complicated products as indexed annuities with the target audience being senior citizens.

It's time to level the playing field.