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Comment for Proposed Rule 75 FR 3281

  • From: Eric Sneed
    Organization(s):

    Comment No: 4714
    Date: 2/1/2010

    Comment Text:

    i0-001
    COMMENT
    CL-04714
    From:
    Sent:
    To:
    Subject:
    Attach:
    [email protected]
    Monday, February 1, 2010 9:59 AM
    secretary
    Public Submission for 2010-00456
    Public Submission for 2010-00456.zip
    Please refer to the attached file.Please Do Not Reply This Email.
    Public Comments on Regulation of Off-Exchange Retail Foreign Exchange Transactions and
    Intermediaries:
    Title: Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries
    FR Document Number: 2010-00456
    Legacy Document ID:
    RIN: null
    Publish Date: Wed Jan 20 00:00:00 EST 2010
    Submitter Info:
    first name Eric
    last name Sneed
    address1 2329 19th Street
    city Moline
    country United States
    us state IL
    zip 61265
    company
    To Whom It May Concern:
    I believe that it is the government's responsibility to protect the interests of its people,
    however I feel, alongside so many others, that this proposal takes it a step too far. I believe
    that a 10:1 limit proposed in RIN 3038-AC61 on leverage serves absolutely no purpose.
    Investing is a risk based market whether its stock, options, or forex, the investor is aware of
    the risks, and if he/she loses some or all of their capital, then it is their responsibility. Retail
    forex disclaimers frequently state that only riskable capital should be used and traded with.
    Please do not pass this proposal.
    Sincerely,
    Eric Sneed