Subject: File No. S7-14-08
From: Malcolm G MacCormac, mr
Affiliation: 35 years in the insurance business

July 16, 2008

In regard to your motivation to regulate indexed annuities
its all about money. I was security licensed and gave it up because of your unprofessional approach to regulation.
If it wasnt for your registered advisors loosing money because of currrent market conditions you wouldnt even be looking at annuities. Securities are not good for many people but fixed products are. Regulate your own industry and leave the fixed industry alone. I forget you havent even learned how to regulate the Securities business