| Comment Number: | 522418-07980 |
| Received: | 7/12/2006 8:26:45 AM |
| Organization: | |
| Commenter: | Louis E DeCamp |
| State: | VA |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
This is in reference to the proposed Business Opportunity Rule, 16 CRF Part 437. We would like the following recommendations on this rule to be adjusted as follows: . Should create a level playing field by requiring clear, simple, and standardized income disclosures that apply to all direct sales. . Should provide a reasonable cancellation policy. . Should not require a seven-day waiting period before a prospect could register. . Should not require IBO references be provided to prospects or disclosure of past litigation. . Should not require financial records to be disclosed to prospects. We have been involved in this business opportunity for over 25 years and our major income would be affected if the rules change substantially. We have always maintained business ethics and opening disclosures where it does not even apply to us would substantially have an adverse effect on our business. This on a larger scale would hurt the economy of entrepreunership businesses. Also each business is set up as a private business and to have a new person have access to each of these businesses would create a confusion and an unpure situation in the line of sponsorship of each business organization. We believe (especially since most businesses are not incorporated) that your own financial records are private. Yes, we believe explanation of how money is made is important and Quixtar has an explanation that is used when presenting this information plus disclosure of any other income. Requiring a seven-day waiting perioed before a prospect could register would create alot of additional paperwork to be in a holding situation and stop the growth of businesses. I believe a reasonably cancellation policy would cover this better.