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Life Health > Running Your Business

Readers suggest SEC learn from its mistakes

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In 28 years as a life agent, I was forced to go get my Series 6 and 63 because captive companies were afraid to stand up and say “no more.” I got tired of the SEC creating jobs just to keep people busy. None of my clients wanted to risk any losses, so I went out on my own.
I stick to what I do best … assess situations, and make recommendations, then stand behind my work. You give an inch, they take a mile, and ruin everyone’s client base and career in the process. Somebody has to say “that’s all” and hold the line.
– Clyde Askren

After the stock market debacle this year, which was a direct result of Wall Street greed and corruption under the watchful eye of the SEC, I find it hard to believe they espouse that they need to regulate the one thing that has not lost a dime: the Fixed Indexed Annuity.
Shame on them. They have a black eye now and there is no reasonable person that would believe they should regulate the insurance industry’s products when they have done such a horrible job regulating their own industry’s products. Unbelievable.
– Jim Toddy


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