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.
$309,000
No
No
No
No
No
Uncollected
Christine Todaro 202 326-3711
ctodaro@ftc.gov
No
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.