Comment Text:
i0-001
COMMENT
CL-03063
From:
Sent:
To:
Subject:
Guy Gleason
Friday, January 22, 2010 11:02 PM
secretary < secreta ry@ C FTC. g ov >
CTFC Regulation
dear Sirs,
based on the proposal for regulation of the forex market in the US, i agree on the need for
oversight and regulations in this financial area, however, the regulation of reducing the leverage of
an account from 100:1 to 10:1 is not a fair practice as a regulation point and would come as a
suppression to the free-enterprise system the US is built upon.
Using numerous educational sources from both reading and my broker, I am able to contain and
use leverage within my means while also realizing the risk involved.
As being in the mortgage industry myself, recent regulations are now in place which were solely
needed and similar in the Forex Brokers industry and Forex market these types are needed to
weed-out the unscrupolus brokers and scams.
Please allow the 100:1 leverage of a forex account to continue, and do not regulate this,
currently I use my account to cover utility bills for my family and donate to my church and I do not
want to jeapordize this source of income for me and my family.
Thank you.
Guy Gleason
Los Angeles, California.
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