[Federal Register Volume 89, Number 2 (Wednesday, January 3, 2024)]
[Notices]
[Pages 378-379]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-28898]


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FEDERAL TRADE COMMISSION


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Extension

AGENCY: Federal Trade Commission.

ACTION: Notice.

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SUMMARY: The Federal Trade Commission (``FTC'' or ``Commission'') 
requests that the Office of Management and Budget (``OMB'') extend for 
an additional three years the current Paperwork Reduction Act (``PRA'') 
clearance for information collection requirements contained in the 
FTC's Business Opportunity Rule (``Rule''). That clearance expires on 
January 31, 2024.

DATES: Comments must be filed by February 2, 2024.

ADDRESSES: Interested parties may file a comment online or on paper, by 
following the instructions in the Request for Comment part of the 
SUPPLEMENTARY INFORMATION section below. Written comments and 
recommendations for the proposed information collection should be sent 
within 30 days of publication of this notice to www.reginfo.gov/public/do/PRAMain. Find this particular information collection by selecting 
``Currently under 30-day Review--Open for Public Comments'' or by using 
the search function.

FOR FURTHER INFORMATION CONTACT: Christine M. Todaro, Attorney, 
Division of Marketing Practices, Bureau of Consumer Protection, 600 
Pennsylvania Ave. NW, CC-6316, Washington, DC 20580, (202) 326-3711, 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title of Collection: Disclosure Requirements Concerning Business 
Opportunities, 16 CFR part 437.
    OMB Control Number: 3084-0142.
    Type of Review: Extension without change of currently approved 
collection.
    Abstract: The Business Opportunity Rule requires business 
opportunity sellers to furnish prospective purchasers a disclosure 
document that provides information regarding the seller, the seller's 
business, and the nature of the proposed business opportunity, as well 
as additional information to substantiate any claims about actual or 
potential sales, income, or profits for a prospective business 
opportunity purchaser. The seller must also preserve information that 
forms a reasonable basis for such claims.
    The Rule is designed to ensure that prospective purchasers receive 
information to help them evaluate business opportunities. Sellers must 
disclose five key items of information in a simple, one-page document: 
(1) The seller's identifying information; (2) whether the seller makes 
a claim about the purchaser's likely earnings (and, if yes, the seller 
must provide information supporting any such claims); (3) whether the 
seller, its affiliates, or key personnel have been involved in certain 
legal actions (and, if yes, the seller must provide a separate list of 
those actions); (4) whether the seller has a cancellation or refund 
policy (and, if yes, the seller must provide a separate document 
stating the material terms of such policies); and (5) a list of persons 
who have purchased the business opportunity within the previous three 
years. Misrepresentations and omissions are prohibited under the Rule, 
and for sales conducted in languages other than English, all 
disclosures must be provided in the language in which the sale is 
conducted.
    Affected Public: Private Sector: Businesses and other for-profit 
entities.
    Estimated Annual Burden Hours: 10,065.
    Estimated Annual Labor Costs: $792,518.
    Estimated Annual Non-Labor Costs: $3,361,014.
    Request for Comment:
    On August 2, 2023, the FTC sought public comment on the information 
collection requirements associated with the Rule. 88 FR 50865 (Aug. 2, 
2023). No relevant comments were received during the public comment 
period. Pursuant to OMB regulations, 5 CFR part 1320, that implement 
the PRA, 44 U.S.C. 3501 et seq., the FTC is providing this second 
opportunity for public comment while seeking OMB approval to renew the 
pre-existing clearance for the Rule. For more details about the Rule 
requirements and the basis for the calculations summarized below, see 
88 FR 50865.
    Your comment--including your name and your state--will be placed on 
the public record of this proceeding. Because your comment will be made 
public, you are solely responsible for making sure that your comment 
does not include any sensitive personal information, such as anyone's 
Social Security number; date of birth; driver's license number or other 
state identification number or foreign country equivalent; passport 
number; financial account number; or credit or debit card number. You 
are also solely responsible for ensuring that your comment does not 
include any sensitive health information, such as medical records or 
other individually identifiable health information. In addition, your 
comment should not include any ``[t]rade secret or any commercial or 
financial information which is . . . privileged or confidential''--as 
provided in Section 6(f) of the FTC Act 15 U.S.C. 46(f), and FTC Rule 
4.10(a)(2), 16 CFR 4.10(a)(2)--including, in particular, competitively 
sensitive information, such as costs,

[[Page 379]]

sales statistics, inventories, formulas, patterns devices, 
manufacturing processes, or customer names.

Josephine Liu,
Assistant General Counsel for Legal Counsel.
[FR Doc. 2023-28898 Filed 1-2-24; 8:45 am]
BILLING CODE 6750-01-P