Comment Text:
i0-001
COMMENT
CL-01490
From:
Sent:
To:
Subject:
Ben Stephenson
Thursday, January 21, 2010 2:17 AM
secretary
Proposed changes to Leverage rules
Dear Sir / Madam,
I am writing regarding the proposed changes to leverage limits (new proposed limit of 10-1).
I do not support this proposal in any way. I feel that this is taking the freedom away from people to make their own
decisions and to be responsible for their own actions. To me, this is a nanny state / baby sitting type mentality,
which effectively says that people in general are incompetent and unable to think for themselves. As far as I'm
concerned, we all make decisions that affect our own lives every day, and we should continue to be given the
opportunity to do so.
I will certainly be moving my forex account away from the USA if this proposal proceeds. It takes away my
flexibility to trade a smaller account. Even if l had a large account, I would move it - because I don't believe in a
governing mentality that says that I can not make my own decisions.
I would be sad to have to do this. To me, it would mean loosing some of the protection that the NFA has in place,
AND ENFORCES. I know I am one of many many traders who feel the same way. Please do not hastily make
such a decision that results in people leaving the NFA protective umbrella and moving overseas where you have
no control or positive input whatsoever.
Thankyou for your careful consideration of this important issue.
Regards,
Ben Stephenson
(New Zealander, trading through the USA)
