MLM Companies - How to regulate them?

• FlowerGrass

  15 Dec 07, 01:56

  Hmm, certainly with this uproar of scams or really the MLM stuff.
  I have some ideas on howt o regulate them!
  
  I think the authority should made it compulsory for MLM conpany to
  advertise their balance sheet at least once a year hor ...
  or if the MLM company don't have budget for newspaper advertisement, it should at least put their balance sheet on their website..
  even if its not obligated to advertise their balance sheet, the compensation plan must include their balance sheet.
  
  and of course it has to be .sg domain .
  
  On top of that they should be audited twice instead of the yearly accounting period.
  
  And also. their license has to be renewed every year, and we have officer from CAD/DSAS to visit the company on adhoc basis to find out what the company is doing and also see how the company runs and of course, we can have MLM companies to pay more tax for renewing their MLM licenses
  
  And also, the authority should sand box them in one area, just like factory work in JTC or car workshop in Sin Ming Autocare or AMK Autocare.
  Sandbox them in ...
  
  Once sandbox, we can expect a crowd there. therefore
  We can have more tables and coffeeshops nearby for them to do their rapport or they call Meeting before meeting or they use the coffeshop as an excuse to say it has nice food nearby..etc then after that tell them to go to the MLM company.
  
  And also i will propose a few taxi stand there for the member to talk "Keng" plan till midnight and let our cabbbie drive you home sweet home. The cabbie uncle will be overjoy.
  
  Now i am looking which office building should i sandbox them?
  Somewhere near the outside city area perhaps?
  
  This should create a public trust for the general public don't you think so???
  
• redstone

  15 Dec 07, 10:06

  With the likes of SE ( cult, scamming company), Enyouth (cult, using trickery to trick ppl to offices/seminars), VE ( hard persuasion), we still have a long way to go.
  
  
• FlowerGrass

  17 Dec 07, 11:03

  So what do you think of my ideas?
• laurence82

  17 Dec 07, 11:16

  actually the MLM industry should be under probation
  
  meaning, install a host of strict regulations, a regulatory body and a licensing programme, till the whole industry wakes up and start pulling its socks up
  
  no point keep referring to a weak law that cant do anything, nor pointing to black sheeps would do any good
  
  its action now!
• fire & ice

  17 Dec 07, 12:24

  it won't be happening as our govt is pro-enterprise. all the measures proposed seem to be very restrictive and not encouaging for business.
• laurence82

  17 Dec 07, 14:19

  Originally posted by fire & ice:

  it won't be happening as our govt is pro-enterprise. all the measures proposed seem to be very restrictive and not encouaging for business.

  they may be pro enterprise but they aint suicidal
  
  they did the same to insurance industry and laid the ground for professional standards
  
  enterprises may have negative impacts on the country, but ponzi scams can cause the collapse of the economy, even for larger country
  
  when they weigh the pro and cons, they can see whether its worth doing it
  
  btw, the thing about govt being pro enterprise isnt exactly true
  
  one of the chief complaints against the government, for eg, in the financial industry where i am in, singapore has one of the most restrictive financial laws in the world
  
  and hell our MAS check every little thing
  
  
• FlowerGrass

  24 Dec 07, 01:26

  Come here, lets have MLM regulated!!
  
  ITS the singaporean way!!!