Comment Text:
i0-001
COIMMENT
CL-02616
From:
Sent:
To:
Subject:
Jack Kelley
Friday, January 22, 2010 10:53 AM
secretary
RE: Regulation of Retail Forex
Thank you for your acknowledgment. J&J Kelley
--- On Fri, 1/22/10, secretary
wrote:
From: secretary
Subject: RE: Regulation of Retail Forex
To: "Jack Kelley"
Date: Friday, January 22, 2010, 9:50 AM
Your submission has been received by the Commodity Futures Trading Commission. Please be advised
that this acknowledgement does not constitute either Commission approval of the subject proposal or a
determination that the proposal is consistent with the Act and the regulations thereunder.
I~rom:
Jack Kelley [mailto:[email protected]]
Sent: Thursday, January 21, 2010 4:52 PM
To:
secretary
Subject: Regulation of Retail Forex
Dear Commodity Futures Trading Commission Secretary (CFTC),
Please copy and distribute this e-mail to all the CFTC members.
We are immeasurably disturbed by your move to increase margins for forex trading, by tenfold,
in firms that are Commodity Futures Trading Commission and National Futures Association
regulated. Your move is dead wrong and totally unwarranted. Perhaps you think you are saving
the small trader. In fact, you are ruining us.
My wife and I are retired. For years, we have supplemented our modest pension and Social
Security by carefully trading the retail forex market. If you increase our margin requirement
tenfold, you will reduce by tenfold our income.
This sort of action is criminal, on your part.i0-001
COIMMENT
CL-02616
We fully understand the risk of trading forex. Using sophisticated software, and carefully
monitoring every trade, we buy or sell only small numbers of contracts and use stops to negate
the risks that scare you.
Let us not mince words: If you implement this insane proposal, you are stealing from Jack and
Judy Kelley! Big government at its very worse.
Leave our business alone!
Jack and Judy Kelley
511 Wedgewood Way
Devine, Texas 78016
