Federal Trade Commission Cracking Down on Fraudulent Biz Ops
The Federal Trade Commission is proposing to make regulation changes to its Business Opportunity Rule. The Federal Trade Commission is concerned that there is fraud and misrepresentation going on out there with the sales of business opportunities.
It has announced that; “The Federal Trade Commission (the “Commission” or “FTC”) is commencing a rulemaking to promulgate a trade regulation rule entitled “The Business Opportunity Rule” (or “the Rule”), based upon the comments received in response to an Advance Notice of Proposed Rulemaking (“ANPR”) and other information discussed in this notice. The proposed Business Opportunity Rule would prohibit business opportunity sellers from failing to furnish prospective purchasers with material information needed to combat fraud and would prohibit other acts or practices that are unfair or deceptive within the meaning of Section 5 of the Federal Trade Commission Act (“FTC Act”).”
You see each year millions of Americans are subjected to misleading advertisements soliciting Business Opportunities and then send for information, which often contains misrepresentations. This is known. Having studied this for years, it is my contention that the FTC Federal Trade Commission its self embellishes their own services to our nation.
In fact weren’t they suppose to get rid of Identity Theft, SPAM, Spyware and Phishing? Not even close. Yet we all see their Press Releases, but as a percentage of the over all problem, they have done little if anything to solve the crimes against citizens. Their dismal failure in fact has only been confirmed in their asking for more money from Congress for next years budget. Personally I think they are a sham and I think that is a shame? But the question now is can they stop the crime and misrepresentation, which goes on in the Biz Op sector? If they can it would be great for all the honest practitioners out there. If not, well we should not be too awfully surprised now should we?
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