From: J. Kreifel
Sent: August 15, 2006
Subject: File No. SR-NASD-2004-183

I wish to state my strong disagreement with the NASD proposal regarding the sale of insurance variable annuities. I have been in the business for approximately 30 years and am more and more disturbed by efforts of the NASD in areas such as this, where they do not have first-hand knowledge of the client and why we might recommend a variable annuity. Previous suitability requirements state we must "know your client" which I believe we do a very good job of before making a recommendation. The NASD should allow us to do our job, helping people accumulate wealth in an efficient manner so they can enjoy an independent retirement.

Perhaps NASD next will suggest different suitablilty requirements and second-hand reviews for each and every stock sold by the brokerage community.

By the way, is there a real "out-of-conttrol" problem or is this an example of the "WORKS PROGRESS ADMINISTRATION" being resurrected by the NASD?