The approval for this information collection will go into effect March 1, 2012; with the current requirements still being in effect until Feb 29, 2012.
Inventory as of this Action
Requested
Previously Approved
02/28/2015
36 Months From Approved
03/31/2012
3,163,773
0
250,000
10,533
0
16,750
3,068,843
0
3,887,500
The Federal Trade Commission is adopting final amendments to its Trade Regulation Rule entitled "Disclosure Requirements and Prohibitions Concerning Business Opportunities" ("Business Opportunity Rule"). Among other things, the Business Opportunity Rule has been amended to broaden its scope to cover business opportunity sellers not covered by the interim Business Opportunity Rule, such as sellers of work-at-home opportunities, and to streamline and simplify the disclosures that sellers must provide to prospective purchasers.
US Code:
15 USC 41-58
Name of Law: Federal Trade Commission Act
The final rule amendments streamline the required disclosures (from over twenty to five) in the disclosure document that business opportunity sellers give to prospective buyers, permit business opportunity sellers to comply with the Rule using existing materials, and permit the use of electronic signatures and electronic recordkeeping. The amendments expand the Rule's coverage to encompass work-at-home opportunity sellers. The amendments add the requirement that sellers must provide the disclosure document and other required disclosures to potential purchasers in the same language the seller uses to market the business opportunity.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Biz Opp Final Rule Suppl. SS final_mtd.pdf
Costs of Bus. Opp. Sellers Mktg in non-English to Translate the Required Disclosures