July 15, 2008
I would like to voice my concerns against trying to view fixed annuities as needing to be presented by Registered agents with the SEC.
Many reasons why we choose the FIXED INDEXED ANNUITIES is not to participate in the stock market directly and incur losses. I believe those that are looking to enter into that market should be represented by Registered agents but those who are wanting the safety net the fixed indexed annuities offer, can be continued to be handled by the agent as has been.
Having to obtain the securities license opens a whole other dimension that clients for fixed indexed annuities are not venturing into. Therefore the loss of time and money spent on studying and obtaining the securities license is an expense totally unnecessary. The agent selling only fixed indexed is not offering the variable annuities nor any of the variable products.
The maintaining of the securities license is also an added expense.
I hereby enter my declaration that I am against this proposed ruling.