Subject: SR-NASD-2004-183
From: Andrew Bennett
Affiliation:

August 4, 2005

Jonathan G. Katz
Secretary, Securities and Exchange Commission
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-9309

Jonathan Katz:

I firmly believe that people who engage in misleading sales practices should be aggressively prosecuted and subject to appropriate sanctions.

However, proposed Rule 2821 duplicates requirements that are already in place. NASD rules already contain suitability requirements that apply to all sales of securities, including variable annuities. If regulators really want to protect consumers, appropriate enforcement of the existing suitability rule rather than adopting a new rule is the answer.

Sincerely,

Andrew Bennett