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Requiring registration before expressing an opinion is called prior
constraint, a violation of the 1st amendment.
We all know that frauds exist - but has registration helped? I think not,
when you realize that the CFTC refused the recommendation to make CTAs take a
basic futures examination.
Registration does not protect the public but opens the door for intrusion and
opening up subscriber lists of newsletter publishers to the CFTC.
Best wishes
Manning Stoller
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