Financial Services Alert

The Federal Trade Commission ("FTC") published proposed changes to the Telemarketing Sales Rule, 16 C.F.R. Part 310 (the "Rule"). Many of these proposed changes were first discussed in public forums held in January and July, 2000. Other proposed changes would implement the requirement of the recently –enacted USA PATRIOT Act that telemarketing restrictions apply to charitable institutions as well as for-profit businesses. Of the numerous proposed changes, the most significant are:

• Creation of a national do-not-call registry, to be administered by the FTC, which telemarketers would have to consult at least on a monthly basis and purge their telemarketing lists accordingly;