Subject: File No. S7-14-08
From: Matthew Sapaula
Affiliation: NAIFA

July 30, 2008

Many clients I work with DO understand that fixed indexed annuities are a much safer alternative. The issues are not in regulation or "protecting the consumer" but rather in training an industry that has radically changed in the last 10 years to independent contractors. I oppose this legislation and challenge the insurance industry, rather, to enact quality training and internal processes that empower and educate their entreprenurial sales force.