November 12, 2008
The sale of indexed annuities should be left to the regulation of State Insurance Commissioners.
Annuities are Life Insurance Products. Guarantees, insuring against the volatility of the Stock Market is an insurance matter, not a SEC matter.
Is the SEC interested in insuring investments? No!
Are the Insurance Companies to benefit from such regulation? No!
Will the US economy be strengthened with this type of regulation? No!
Please keep your regulation to the building of a more secure economy not allowing the major Banks and investment firms to gamble with moneys that were not meant to be wagered.
Mark H Trumm