July 18, 2008
A "Fixed" Indexed Annuity is not in the same league as a security/stock/mutual fund etc. Therefore, it should not be regulated as such, certainly not under your auspices.
Why don't you devote some of your time regulating activity that is your responsibility How about all the abusive sales activity and fraud perpetrated under your watch by securities brokers, broker dealers etc. How about your Enrons, Tyco etc?
A fixed annuity in no way resembles a stock market investment, it isn't even viewed like a stock market investment in tax law.
I oppose your desires/attempts to impose your authority in this area where your oversight is not needed. I will be prevailing on my elected officials to tie your hands every way possible from doing this. Furthermore, your heads should be rolling for all the thievery that goes on under your noses.