The untimely death of this type of fund was precipitated by the many cases of abuse of salespersons and their companies as well as crackdowns on this type of market. One major reason for the demise of the fund market is the loss o fifty percent on the investment infused during the first year of the fund contract. Further, many faithful investors in the fund do not recover their initial investments. Also, enrolled members who do not finish the twenty-year monthly installments and withdraw their money have to pay large sums of money in terms of service and other fees to First Command. In response, the chief executive of First Command maintains that the soldier has the freedom to choose whether to save in contractual investment plans or to spend their money and end up with nothing at all at his ripe old age of retirement.First Command, a company selling mutual funds to its military officers and men, has been on the news for violation of regulatory issues such as its sales strategy of using former high ranking military officers to market the First Command products. First, First Command, just like some competitors in the mutual fund and insurance market, are using questionable sales strategies to sell insurance and investments (like mutual funds) that the military personnel does not really need. Second, the military leaders fear that the sales tactics of First Command border on abuse for private profit the blind obedience, loyalty, and trust that is being taught to soldier in the military training schools.Third, First Command violates many sections of the Defense Department Directive 1344.7. Fourth, many insurance specialists stated that the First Command insurance and mutual fund investment policies should be targeted at knowledgeable long term investors who have plenty of idle funds to spare. Fifth, the First Command policy salesperson does not explain the true nature of their business. Sixth, First Command violated the Securities and Exchange Act of 1933.