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Hey Reader,
If you own a business in the United States or your client base is in the United States, you need to know about these 2 things.
For businesses based in the US and anyone with a US client base
The Federal Trade Commission has passed new rules related to selling, testimonials/reviews, and subscription/membership management in October.
- If you sell your services in any way over the phone or on Zoom, the FTC has updated the Telemarketing Sales Rule to include new guidelines on information you have to disclose and information you need to keep documented. Check out this video for an overview.
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The FTC also passed a new rule to combat the deceptive practices related to reviews and testimonials. The rule prohibits:
- Writing, selling, or buying fake or false consumer reviews
- Writing, selling, or disseminating fake or false testimonials
- Buying positive or negative reviews
- Failing to make disclosures about insider reviews and testimonials
- Deceptively claiming that company-controlled review websites are independent
- Illegally suppressing negative reviews
- Selling and buying fake social media indicators
- The "Click to Cancel" Rule is now approved. If you sell a subscription or membership, the buyer now needs a way to cancel that is as easy to do as it was to sign up.
For US-Based Businesses
The Treasury Department, under the new anti-money laundering law, now requires businesses to file a Beneficial Ownership Information report disclosing who ultimately owns and controls the company.
This is a required filing for businesses (big and small). If you don't file by December 31, 2024, there can be big fines.
It should only take about 15 minutes to complete. This video will take you through the steps to file.
Take care,
Anna
tl:dr (too long; didn't read)
- If you do business in the US, the FTC passed new rules concerning selling, testimonials/reviews, and subscription/membership management. You need to be aware of these to stay compliant.
- If you own a US-Based business, you need to make sure you file your Beneficial Ownership Information Report by December 31, 2024 to avoid fines.
When you're ready, here are 4 ways I can help you right now:
- Grab my free AI SEO Checklist. An on-on page SEO checklist with AI prompts to help you tackle your blog SEO quickly and easily.
- Want easy, practical, and implementable help with using AI? Check out The Practical AI Playbook, a private podcast where each episode walks you through implementing AI step-by-step in your business.
- Feeling like you're mired in overwhelm and you don't know how to get out? Come join me in OTTO, where we Overcome The Tech Overwhelm and make your business easy and fun with the right tools for you.
- Looking for 1:1 support or help with a bigger project, book your free 30-minute discovery call here.
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