| Comment Number: | 522418-09122 |
| Received: | 7/13/2006 11:28:29 PM |
| Organization: | Team |
| Commenter: | Jack Schneider |
| State: | MI |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
I would frist like to commend the FTC for targeting fraudent get rich quick, pyramid, and other scams. A well written rule would put these scamers out of business. As the proposal is now would put undue burdens on legitimate businesses such as Quixtar and many others. After working in this business for almost three years,here are some of the trouble spots for Quixtar and other ligitimate businesses.1.7 day waiting period for propects before registering. No waiting period for organizations like Quixtar that have money back if not satified. 2. 10 references should be eliminated because it infringes on privacy of the 10 references and penalizes the sponser. 3.Giving prospect list of legal claims would open the door for all kinds of accusations true or not. Dishonest companies would ignore this rule. 4. If disclosures are needed use average monthly gross income for active IBO's. 5. Personal financial statements should not be given to prospects, but to FTC if required in an investigation. I whole heartly belive in giving the prospect all of the information he needs before registering and money back if not satisfied. Please don't over burden the companies that are doing the right things. THANK YOU, Jack