From: Joel Swinehart
Sent: July 19, 2006
Subject: File No. SR-NASD-2004-183

I am a series 24 registered principal. I have taken and passed the Series 6, 63, 65, 7 and 24 and many other tests. After 34 years in the business I feel proposed rule 2821 is singling out variable annuities.

First we have a suitability plan in place and as a principal I review all equity cases. Why a VA is more important than a mutual fund, stock or VUL makes little sense. I have seen a great deal more problems in stock and mutual fund purchases than Variable Annuities which have prospectuses and features left behind for clients to review.

With Rule 3010 already providing supervision requirements I would like to see us enforce and use requirements of suitability on all equity products than trying to single out each product as a separate island.

Please don't over burden us with Rule 2821 and vote no. Let's enforce Rule 3010 on all equities.

Joel Swinehart