Federal Trade Commission March 2007 – Federal Register Recent Federal Regulation Documents

The Federal Trade Commission (the ``Commission'' or ``FTC'') amends its Trade Regulation Rule entitled ``Disclosure Requirements and Prohibitions Concerning Franchising and Business Opportunity Ventures'' (``Franchise Rule'' or ``Rule'') to streamline the Rule, minimize compliance costs, and to respond to changes in new technologies and market conditions in the offer and sale of franchises. Part 436 sets forth those amendments to the Franchise Rule pertaining to the offer and sale of franchises. Part 437 sets forth a revised form of the original Franchise Rule pertaining solely to the offer and sale of business opportunities. This document provides background on the Franchise Rule and this proceeding; discusses the public comments the Commission received; and describes the amendments the Commission is making based on the record. This document also contains the text of the final amended Rule and the Rule's Statement of Basis and Purpose (``SBP''), including a Regulatory Analysis.

The Federal Trade Commission (``FTC'' or ``Commission'') is seeking public comments on its proposal to extend the current Office of Management and Budget (``OMB'') clearance for information collection requirements contained in its Contact Lens Rule (``Rule'') from April 30, 2007 through April 30, 2010. The information collection requirements described below will be submitted to OMB for review as required by the Paperwork Reduction Act (``PRA'').

The OCC, Board, FDIC, OTS, NCUA, FTC, CFTC, and SEC (the Agencies) are proposing amendments to their rules that implement the privacy provisions of the Gramm-Leach-Bliley Act (GLB Act), Title V, Subtitle A. These rules require financial institutions to provide initial and annual privacy notices to their customers. As required under section 728 of the Financial Services Regulatory Relief Act of 2006 (Regulatory Relief Act or Act), the Agencies are proposing a safe harbor model privacy form that financial institutions may use to provide disclosures under the privacy rules. Institutions that use notices based on the Sample Clauses currently contained in most of the privacy rules would lose the benefit of a safe harbor for compliance with respect to those notices if they are provided more than one year following the date of publication of a final rule. Similarly, institutions that use notices based on the Sample Clauses in the SEC's privacy rule could no longer rely on the guidance provided with respect to those notices if they are provided more than one year following the date of publication of a final rule.

The information collection requirements described below will be submitted to the Office of Management and Budget (``OMB'') for review, as required by the Paperwork Reduction Act (``PRA''). The FTC is seeking public comments on its proposal to extend through April 30, 2010 the current PRA clearance for information collection requirements contained in its Free Annual File Disclosures Rule (``Rule''). That clearance expires on April 30, 2007.

The Federal Trade Commission (``FTC'' or ``Commission'') is extending until June 18, 2007 the deadline for filing comments on the Guides and on two consumer surveys commissioned by the Commission concerning the interpretation of consumer endorsements.

The consent agreement in this matter settles alleged violations of Federal law prohibiting unfair or deceptive acts or practices or unfair methods of competition. The attached Analysis to Aid Public Comment describes both the allegations in the draft complaint and the terms of the consent orderembodied in the consent agreementthat would settle these allegations.

The Commission is updating the agency's description of its organization and activities in Part 0 of its Rules of Practice to include the Office of International Affairs.