| Comment Number: | 522418-03669 |
| Received: | 6/21/2006 4:31:13 PM |
| Organization: | |
| Commenter: | Roger Farney |
| State: | NY |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
I understand the good wishes to protect good business practices, but some things about this proposed act are of HUGE concern to me. (1) The 7-day waiting period will create an air of suspicion among prospective purchasers when told that the FTC requires such a waiting period, harming the good companies. (2) The list of nearest references is a HUGE breach of an individual's confidentiality, and (3) the proposal reguarding earnings claim statements. I strongly support the proposition that earnings claims made by business opportunity sellers should be substantiated, BUT this requirement will not deter fraud. A fraudulent company will not provide accurate data, while legitimate business opportunity sellers will have difficulty in meeting the proposed requirements. Please re-visit these issues for the sake of good business practices that will not harm upstanding companies. Thank you.