Subject: SR-NASD-2004-183
From: Greg Ezell

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 urge the SEC to disapprove the referenced proposal.

As a licensed insurance professional and variable product salesperson, I am very concerned with the proposed principal review requirements and redundant suitability standards contained in NASD proposed Rule 282.

This proposed rule will provide no additional protection to consumers and may adversely impact my business and not serve my clients.

We should continue to aggressively prosecute and take appropriate sanctions with people who engage in misleading sales practices. NASD rules already contain suitability requirements that apply to all sales of securities, including variable annuities.

Appropriate enforcement of the existing suitability rule rather than adopting a new rule is the answer.

A requirement for review by a principal found in the proposed rule establishes a bias against these products and will most likley lead to second guessing of my advice and recommendations made with my clients. Of course, we will see increases in merit less litigation if this is approved.

The available data does not support the NASD's claims that the level of sales problems in the variable annuity marketplace calls for the adoption of the proposed rule. The NASD has not statistically quantified the scope of the problem it is allegedly seeking to solve with the proposed rule.

In addition, I understant that over 95% of the comments received by the NASD regarding the proposal OPPOSED the new rule. These concerns have not even been approperately addressed.

Tthe SEC shoulod disapprove NASD proposed Rule 2821.


Greg Ezell