| Comment Number: | 522418-06720 |
| Received: | 7/7/2006 9:21:40 AM |
| Organization: | |
| Commenter: | LeMaire |
| State: | MI |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
It is my opinion that the proposed Business Opportunity Rule puts too many restrictions on the Independent Business Owner as well as on potential prospects in regards to certain disclaimers and red tape that must be gone through to get started. I support the FTC in its attempt to safeguard people from scams and pyramid schemes, but I feel that the proposal is too limiting. Here is what the rule should and should not do. The rule… • Should create a level playing field by requiring clear, simple, and standardized income disclosures that apply to all direct sellers. • Should provide a reasonable cancellation policy. • Should not require a seven-day waiting period before a prospect could register. • Should not require IBO references be provided to prospects or disclosure of past litigation. • Should not require financial records to be disclosed to prospects.