From: John Reigelman
Sent: August 9, 2005
Subject: File No. SR-NASD-2004-183

John Reigelman
19 Pennicott Circle
Penfield, NY 14526

August 9, 2005

Jonathan G. Katz

Secretary, Securities and Exchange Commission Securities and Exchange Commission 100 F Street, NE Washington, DC 20549-9309

Jonathan Katz:

I am a licensed insurance professional and variable product salesperson. I am writing to you because the principal review requirements and redundant suitability standards contained in NASD proposed Rule 2821 are unnecessary, will provide no meaningful additional protection to consumers and will adversely impact my business. I urge the SEC to disapprove the proposal.

Whenever I have to take time out of my schedule to fill out another form it reduces the amount of "real work" I can do. My clients relie on me for many service and advice functions. If the constant number of forms and extra unnecessary steps are not limited my clients suffer.

I believe that the proposal is a "solution in search of a problem"I do not think the available data supports 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. Furthermore, over 95% of the comments received by the NASD regarding the proposal opposed the new rule, and the NASD has not adequately responded to the concerns raised by the vast majority of commentators. For these reasons, I urge the SEC to disapprove NASD proposed Rule 2821. Thank you for your consideration of my views on this matter.


John Reigelman