| Comment Number: | 522418-01282 |
| Received: | 6/7/2006 1:50:03 PM |
| Organization: | WellSpring Financial |
| Commenter: | David Slattery |
| State: | CO |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Dear Sir or Madam, I am writing this letter because I am concerned that if the proposed Business Opportunity Rule R511993 is adopted in its present form, my livelihood as a Synergy WorldWide distributor will be significantly undermined. The very thought of governmental interference in the free enterprise process causes me great concern. The fact is that there are already laws in place to deal with the type of people that are "rip off artists". Please enforce the current laws and do not burden the honest people of the industry. The public is not well served by the FTC’s over regulation of an industry that is causing absolutely no harm and more than adequately polices itself by remedying any and all complaints by members of the public. Synergy WorldWide complies with all applicable buy-back requirements and always makes it easy for individuals to exit the Company, if the business opportunity is not right for them. While the FTC needs to protect the public where necessary, this proposed rule is hopelessly overbroad and misguided. The seven-day waiting period is unnecessary and will interfere with my ability to enter into lawful transactions and enroll new distributors. People buy TVs, cars, and other much more costly items without such a waiting period. This proposed waiting period gives the impression that something is wrong with the plan. And, the burdensome paperwork, which will not even be read by the public, makes it extremely difficult for the individual participant to fully comply, thereby risking fines and other penalties for such failures, however innocent. By these actions, the FTC does a disservice to the consuming public and Americans everywhere who are trying to get ahead by starting their own business, or adding necessary supplemental income to their family. While I appreciate the work of the FTC to protect consumers, I believe this proposed new rule has many unintended consequences that could be avoided by a less burdensome approach. Thank you for your time in considering my comments. Sincerely yours, David L. Slattery