October 13, 2008
I believe that the state insurance departments are much more competent to regulate the sale of indexed annuities than either the SEC or Finra. Both the SEC and Finra are understaffed and more inclined to deregulate than regulate.
I feel that one of the major reasons for the proposed regulations is to bring more income to Finra, and I find it unwarranted and unnecessary.
Thank you,
Horace T Bone, PhD