From: Richard Gibbs
Sent: March 30, 2005
Subject: File No. S7-06-04

I strongly oppose the proposed disclosure rules for variable annuities and mutual funds.

The SEC and NASD are creating overhelmimg obstacales to providing 1st rate planning services. In the long run, it is the consumer is will get hurt by all these rules.

Richard Gibbs CLU ChFC
Capital Analysts Incorporated