Comment for Proposed Rule 75 FR 3281
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From:
David E Bradley
Organization(s):
Comment No:
3044
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-03044
From:
Sent:
To:
Subject:
Dave Bradley
Friday, January 22, 2010 9:49 PM
secretary
Regulation of Retail Forex
To Whom it May Concern:
Ref # RIN 3038-AC61
With regard to a CFTC proposed change to leveraging rules in the Foreign Exchange Markets,
specifically to reducing the leveraging ratios, I must offer my dissenting opinion.
The foreign currency market is marked by the diversity of transacting individuals and
corporations, not only in its breadth Internationally, but also covering a vast range of investment
levels. It is this nature that provides for its responsiveness to principled free-market behavior.
Imposing limits on leveraging will drive smaller investors out of the market as they are forced to
seek out better returns elsewhere. This will have the very negative subsequent effect of subjecting
market behavior to the whims of large capital investors. This will give larger investors an unfair
advantage.
Excessive regulation of free markets is a dangerous business with unpredictable and arguably
very negative outcomes. The decision and responsibility to leverage and at what depth to leverage
ones capital rests solely with the investor as should the the commensurate risks and rewards.
PLEASE LEAVE LEVERAGING RULES IN THE FOREX MARKETS ALONE.
Sincerely,
David E. Bradley
(256) 541-9525
