Comment for Proposed Rule 75 FR 3281
Note:
If you experience an issue clicking on the "View Comments", the "Submit Comments", or any other buttons, please clear the cache in your browser and refresh the page. In Chrome or Edge, you may refresh the cache by holding down the ctrl key and clicking the F5 button.
-
-
From:
Raymond E Pratt
Organization(s):
Pratt's Consultant Services Inc
Comment No:
892
Date:
1/20/2010
Comment Text:
i0-001
COMMENT
CL-00892
From:
Sent:
To:
Subject:
Ray Pratt
Wednesday, January 20, 2010 12:46 AM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex (RIN 3038-AC61)
Dear Mr. Stawick,
For small investors like myself the regulation of retail forex (RIN 3038-AC61) will terminate me as
an investor partly or entirely. RIN 3038-AC61 is a rule proposal not law yet but if it become law, the
leverage will go from 100:1 or better DOWN to 10:1.
This means you would now need $1000 to trade one mini
lot or $10,000 to trade one standard lot.
I am not opposed to regulation nor regulatory agencies. But that regulation/s needs to be fair, transparent,
and
open to public input, will
there be
any? Otherwise it becomes corrupt and self-serving. Sure high
leverage can get you into trouble if used it thoughtlessly. Sure hedging when not done properly turns one loss
into two. But I believe the cure is EDUCATION, not restricting what people can and cannot do with their
investment decisions. Guide, don't dominate - government was created to protect people and their property, not
to limit their potential." I strongly disagree with the CFTC proposal RIN 3038-AC61 (regulation of retail forex) now
and in the future.
Mr. Raymond E. Pratt President
Pratt's Consultant services,Inc.
htt p ://www.techexpo. co m/fi rms/pratcom p. html
http ://newmoney.tv
Your E-mail and More On-the-Go. Get Windows Live Hotmail Free.
Sign up now.
