|Received:||7/6/2006 7:58:07 PM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:I am a semi-retired business person, currently teaching on a part time basis. I was recently solicited by a fellow teacher to become a partner in a **business venture**. He wanted to introduce me to his **group of investors** at a meeting approximately 70 miles distant. Although I pressed for details, he deflected all inquiries, citing confidentiality. Upon arrival, it became apparent this was a MLM promotion, specifically Amway/Quixtar, and there was, in fact, no **group of investors**. I sat through a 3 hour parade of speakers trying to rally their troops, and boring me to death. After the meeting, I was "invited" to a private meeting at a local restaurant and pressured by a series of closers to commit. Interestingly, the names Amway or Alticor or Quixtar never once came up. From a rulemaking point of view, I would suggest that each and every MLM company representative or solicitor be required to disclose their true corporate or business name identities both in writing and verbally concurrent with any solicitation of a new prospect. I would also suggest that persons soliciting others to join a MLM entity be required by rule to disclose their own personal MLM company financial results for the prior 3 years when requested to do so by the prospect. This change alone would cut through all the glittering generalities which are prevalent in the promotion of MLM companies and instead allow the prospect to see a counterbalance in the form of the cold hard truth of actual profits and losses. Thank you for the opportunity to express my opinions.