October 22, 2008
SEC 151a seems to be a power grab by the SEC that will definitely suppress the opportunity for millions of Americans to participate in Stock Market gains without the down-side risk of that market. As a former Series 6, 63 and 7 licensed broker I feel the indexed annuity is a boon to the larger population that cannot afford to risk the loss of capital.
Millions of licensed professionals can offer excellent products to millions of Americans without the need for SEC oversight which would reduce the market place to the advantage of a small percentage of brokers who sell very high cost variable products.
Sincerely,
Craig D. Sanborn
Sanborn Insurance Agency
Mesquite, Texas