From: Javier D. Perez
Sent: July 13, 2006
Subject: File No. SR-NASD-2004-183

Dear Ms. Norris,

I am a Registered Representative and have been for over 20 years. I have supervised R.R. For about 14 years and still supervising R.R. in my profession.

The proposed regulation regarding suitability to sell deferred variable annuities is an unnecessary and costly regulation if approved. Regulations have already existed for many years and yearly mandatory educational requirements of Registered Reps to comply with suitability issues continue to be adhered to. A Variable Annuity is a security and falls under the regulations of a security. The insurance industry is and has been pro-active in this area. Therefore, I urge the NASD not to approve the proposed regulation of suitability for deferred variable annuities.


Javier D. Perez, ChFC, CSA, LUTCF

Tesoro Ins. & Fin. Services
Phone: 925-447-6768
Fax: 925-447-6769