|Received:||7/10/2006 11:17:48 PM|
|Organization:||Adam and Associates|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:Regarding the above proposal, I think that the concerns I have read are, for the most part valid. However creating an unduly burdensome disclosure document would prohibit prospects from registering their businesses in a timely manner, put an undue burden on the sponsoring party by requiring "references", and unnecessarily require disclosure of personal financial records. I do support the FTC's desire to create a level playing field by requiring clear, simple and standardized income disclosures tha apply to all direct sellers. I do support requiring a reasonable cancellation policy. I do not support the suggested seven-day waiting period before a prospect could register . I do not support the proposed requirement that the sponsoring party provide references and disclosure of past litigation. Nor do I support the proposed disclosure of financial records to prospects. The basic desire of the FTC to provide safeguards for prospects from get-rich-quick schemes and other "opportunities" designed to merely hoodwink an unsuspecting prospect is admirable but should not burden honest business people with unnecessary regulations.