|Received:||7/11/2006 8:56:16 AM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:1. Eliminate the waiting period, at least for opportunities like Quixtar where a prospect can get his money back if not satisfied. 2. Eliminate the requirement to provide 10 references. This infringes on the privacy of others and could lead to identity thieft. 3. Eliminate the requirement to disclose past litigation. 4. If disclosures are needed, require a simple, standard, easily understood disclosure such as "average monthly gross income for 'active' IBOs. 5. A person should possess substantiation for any income claim but should not be required to disclose it except when required by the FTC and similar state agencies in an agency investigation. Should all employers be required to disclose everyone's income? This is not the American way of business.