From: John Power
To: Rule Comments
Sent:July 12, 2006
Subject:File Number SR-NASD-2004-183

Dear Sir or Madam:

As a licensed insurance professional, I am writing to urge the SEC to disapprove the above captioned proposed rule.

I strongly support the strictest prosecution and sanctions for those people that engage in misleading sales practices. However, the proposed rule seems to be solution in search of a problem. Available data does not support the NASD’s claims that current sales activities require the adoption of the proposed rule. My understanding is that unsuitable variable annuity sales constitute less than 1% of the NASD’s disciplinary actions over the past 5 years.

The proposed rules also duplicates existing supervision and suitability standards. The requirement that a principal review the sale for suitability calls for uninformed second guessing at best and at worst, is insulting to the vast majority of professional who work hard to provide suitable products for their clients. Do you really think that someone in Birminham, AL or Hartford, CT or wherever, really know what’s best for a client in Bismarck, ND that they have never met or even talked to?

Again, I urge the SEC to disapprove proposed rule 2821. Thank you for your consideration of my comments.

John Power, CPA Power Financial, LLC The Art & Science of Business Planning 1110 College Drive Suite 105 Bismarck, ND 58501 701.255.7259 Telephone 866.724.6480 Fax