|Received:||6/21/2006 4:31:13 PM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
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.