Comment Text:
i0-001
COMMENT
CL-02798
From:
Sent:
To:
Subject:
Jeremy Whaley
Friday, January 22, 2010 3:34 PM
secretary
Regarding new CFTC rules
I'm writing to voice my opinion about new CFTC rules regarding
lowering leverage for FX trading.
In short - when will you guys stop being so regulation happy?
Seriously - no one is forced to trade with 100:1 leverage. No one is
forced to trade with 400:1. Moreover, after your last ruling I moved
all my accounts to dealers outside of the US anyway. All your
regulation is doing is hurting dealers here in the US, so why are you
trying to do that?
I teach several students how to trade and due to recent regulation I
encouraged them to open accounts in Britain or Australia. If you pass
these new rules I'll no longer "encourage" them to open international
accounts, instead I'll simply say "you're stupid if you open an
account in the US".
Hopefully this email let's you know how I feel about your regulations.
