Comment Text:
i0-001
COMMENT
CL-01090
From:
Sent:
To:
Subject:
Arthur Felter
Wednesday, January 20, 2010 6:24 PM
secretary
Regulation of Retail Forex
The proposed regulation is bad for the US economy, and bad for the CFTC.
It is bad for the US economy because foreign companies are not subject to CFTC regulation, and
likewise offer large leverage amounts. A government agency cannot, and should not even attempt, to
save me from myself. Moreover, most brokers inform their customers that excessive leverage brings
excessive risk.
Secondly, it is bad for the CFTC. The foreign exchange market is a global market place, and if forced,
US brokers will simply move to either England, Singapore or Hong Kong where there aren't any
restrictive regulations. This effectively pushes the foreign exchange business out of the reach of the
CFTC all together, nullifying it's mere existence.
Let the CFTC do as it wishes; just so long as it knows that, if passed, I WILL move my trading account
to an overseas broker.
Arthur
Forex Trader
