|Received:||7/5/2006 8:39:32 PM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:My husband and I started our home business in May, 2004, powered by Quixtar as Independent Business Owners. When we registered we were never told it would be easy, get rich quick, or happen automatically. The only reason we are not more successful than we are is because we have not put in the required effort, not the fault of our sponsors, our business support team, or Quixtar. Quixtar has always been operated with great ethics and integrity and when a new IBO registers, they agree to maintain that integrity. The brochure we use when showing our business plan discloses all of this information including the income available to those who are willing to work and run hard after their dreams, but we also tell prospects what will happen if they choose not to work at sharing the business plan with others. Having to disclose our own financial statement and that of 10 other IBOs would be an invasion of privacy for their records as well as our own. There are some things that should still be kept private. I have been working at a bank for the past 27 years and the requirements for paper work has increased at an amazing rate, especially since 9-1-1. In my understanding of this new proposed FTC requlation, I have the feeling that the same thing is happening here. The banking industry is very heavily regulated, especially in the privacy area. Disclosing income and financial records to others would be a definite violation of the Bank Secrecy Act, and I feel the same regulations should apply here in the network-marketing business. I would urge you to consider the regulations you are drafting to police those businesses that really need it instead of making it more difficult for people with the drive and ambition to make their dreams come true and realize the true benefits of this free enterprise system we have in this country. Please consider the privacy infractions as well as the damper these regulations would apply to those who want to do more with their lives than work for 50 years and finally make $50,000 to retire on 50% of that and try to make retirement successful on pensions that are disappearing, benefits that are becoming unavailable to those who really need them, and increasing costs of everything necessary to survive. Thanks for considering my comments.