| Comment Number: | 522418-05939 |
| Received: | 7/4/2006 2:32:01 PM |
| Organization: | |
| Commenter: | Duval Acker |
| State: | SC |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
I agree fully with your need to regulate unscrupulous and often bogus business opportunities. However, I've been associated with one for 6 years which allows me to earn if I work to do so, offers comlete accountability and has been in business itself for 40+ years. Therefore, my business would be negatively impacted by the restrictions under this proposed rule. May I suggest that: If a registrant's initial is fully refundable within a certain period of time, that the waiting period be eliminated? Also, I could not disclose lawsuits lodged all over the country regarding my or any other busines - that would be impossible! So, I would suggest rather that you drop the lawsuit disclosure requirement, and instead require regular filings of normal business documents with governmental agencies - local, state and federal, including tax forms to earners (1099's), as the requirements. I would also be greatly hampered by needing to give references of others in my business to prospective registrants, because I may lose my registrant to another business owner. There must be other means of accountability available. I know that our parent company offers it's full history and established track record of success, disclosure of it's business relationships, bios of it's leaders, etc. in public places, where it's easily accessed. Basically, a transparent company, with bulletproof record-keeping should not be penalized as would a business without credentials, proven leadership, roots that show integrity and honesty. I hope you'll consider my comments and create rules that are truly fair to them all. We keep the law, pay our taxes and work hard, and thank you for seeking to do the right thing in this instance. Best wishes, Duval B. Acker