Dismiss Gary Gensler as Chairman of the CFTC
Sign Now
We, the undersigned, respectfully request the immediate dismissal of CFTC chairman, Gary Gensler.
As head of the CFTC, Mr. Gensler has an agency leadership obligation to demonstrate professional competence, particularly in regard to having sensitivity to stakeholder issues. The CFTCs proposal to limit forex leverage to 10:1 instead of the current 100:1 for major pairs has shown a manifestly inadequate level of professional knowledge. Indeed, it can be stated that in seeking to introduce 10:1, Mr Gensler has caused much damage, both to the US industry and to traders around the globe.
Mr. Genslers background with Goldman Sachs and his on-the-record disregard for the intelligence and capabilities of the trading public is a matter that breaches public trust in his capacity to satisfactorily discharge his duties.
The CFTC has been soundly rebuked by the unprecedented level of opposition to the 10:1 proposal. Mr Gensler has also clearly lost the confidence of the industry proper, with every industry representative organization, including the NFA, the FIA and the FXDC also being deeply opposed to the proposed leverage change.
Rather than protecting the best interests of the trading public, Mr Genslers leadership has failed both the industry and traders. The harm generated by this ill-considered proposal is a matter that will continue to impede harmonious relationships throughout the industry while Mr Gensler remains as head of the CFTC.
We therefore request that Congress replace Mr. Gensler with someone who can discharge the duties of the Chairmans office with greater skill and sensitivity towards the stakeholder issues.
As head of the CFTC, Mr. Gensler has an agency leadership obligation to demonstrate professional competence, particularly in regard to having sensitivity to stakeholder issues. The CFTCs proposal to limit forex leverage to 10:1 instead of the current 100:1 for major pairs has shown a manifestly inadequate level of professional knowledge. Indeed, it can be stated that in seeking to introduce 10:1, Mr Gensler has caused much damage, both to the US industry and to traders around the globe.
Mr. Genslers background with Goldman Sachs and his on-the-record disregard for the intelligence and capabilities of the trading public is a matter that breaches public trust in his capacity to satisfactorily discharge his duties.
The CFTC has been soundly rebuked by the unprecedented level of opposition to the 10:1 proposal. Mr Gensler has also clearly lost the confidence of the industry proper, with every industry representative organization, including the NFA, the FIA and the FXDC also being deeply opposed to the proposed leverage change.
Rather than protecting the best interests of the trading public, Mr Genslers leadership has failed both the industry and traders. The harm generated by this ill-considered proposal is a matter that will continue to impede harmonious relationships throughout the industry while Mr Gensler remains as head of the CFTC.
We therefore request that Congress replace Mr. Gensler with someone who can discharge the duties of the Chairmans office with greater skill and sensitivity towards the stakeholder issues.
Sign The Petition
Continue with Google
OR
If you already have an account please sign in, otherwise register an account for free then sign the petition filling the fields below.
Email and password will be your account data, you will be able to sign other petitions after logging in.
Shoutbox
Goal
100 signatures
Goal: 1,000
Tags
No tags
Embed Codes
direct link
link for html
link for forum without title
link for forum with title
