Comment for Proposed Rule 75 FR 3281
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From:
Harry Leonard
Organization(s):
Comment No:
3157
Date:
1/23/2010
Comment Text:
i0-001
COMMENT
CL-03157
From:
Sent:
To:
Subject:
Harry Leonard
Saturday, January 23, 2010 7:40 AM
secretary
Regulation of Retail Forex
RIN 3038- AC61
I am strongly opposed to the current proposal to set the leverage requirment from the current 100:1 to
10:1. Those of us who chose to trade in the currency market are well aware of the risks involved and
therefore use only funds that are reserved to speculative investments.
What you are proposing will be devestating to US brokers and cause massive layoffs and the move of
funds to overseas brokers who do not find it their job to treat the public traders like children and with an
attitude of "we know whats best for you".
I am well aware of the risks of speculative investing and can take care of my own financial order
without the intrusive government regulation limiting my ability to earn a living.
