Comment Text:
i0-001
COMMENT
CL-07865
From:
Sent:
To:
Cc:
Subject:
John McCoy
Tuesday, March 16, 2010 12:46 PM
secretary
[email protected], com; [email protected]
Regulation of Retail Forex
REGULATION of RETAIL FOREX
Identification Number: RIN 3038-AC61
The proposed CFTC rules of changing the FX leverage to 10:1 is ridiculous. I as an active
trader am outraged that such a proposal could even be considered. It is anti-American to
destroy the basic right and freedom of FX traders to choose the amount of leverage that is
appropriate for them.
The CFTC was created in 1974 with a mandate that would prohibit the CFTC from creating any
anti competitive rules and regulations in regards to its members. This change would create an
anti-competitive environment for Forex brokers in regards to competition with banks not
regulated by the CFTC and it goes a lot farther than that.
The CFTC is becoming a JOKE! Pull your head out of the sand and look at the whole picture.
John McCoy
181 Simmons Road
Lakehills, TX 78063
