| Comment Number: | 522418-08453 |
| Received: | 7/12/2006 8:40:18 PM |
| Organization: | |
| Commenter: | Jack Reid |
| State: | NC |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Having been in the multi-level business for 36 years, the proposed rules would greatly jeopardize my business. We do need rules and criteria that would be applied fairly to all Network Marketing businesses. Income exaggerations should be regulated. A fair and equitable Cancellation policy should implemented. A seven day waiting period for prospects would ruin our business. Also, requiring that references be given to the prospects would totally undermine our recruiting efforts.Having to disclose Financial Records to prospects would force us to do what no other business is forced to do. Many of our prospects are not experienced business people, and would not respect the Confidentiallity of our financial information. My wife and I built our business on a part-time basis for 24 months, then, I went full-time and have been ever since that time. We have worked hard to build our business, and we feel that the new rules being reviewed would destroy our business. Please, put careful consideration into implementing any new Rules. Thousands of businesses are at risk. Thank you for listening. Jack Reid