| Comment Number: | 522418-06813 |
| Received: | 7/7/2006 3:37:13 PM |
| Organization: | |
| Commenter: | NORMAN MCLENNAN |
| State: | OR |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
The following are comments regarding the proposed rule for US business opportunities. a. we agree to clear and simple standardization of income disclosures that all direct sellers conform to. b. we agree to a reasonable cancellation policy. c. we disagree to a lengthy,7 day waiting period before registration of a prospect. The decision of a prospect can be changed or altered without any "court" action. d. we disagree with IBO's being required to disclose their private business, either for monetary or reference to opinions, success or lack there of, for the purpose of possible "future" IBO questions and knowledge. We respect the confidentiality of a person's business, and a "prospect" should do so also. They should base most of their decisions on the integrity of the person presenting to them the business. For instance, how does one invest with an "unknown" stock broker? This person will ultimately become their unlicensed "partner" in building their business. Like the old saying: if you don't know your jewels, better know your jeweler.