Comment Text:
i0-001
COMMENT
CL-01249
From:
Sent:
To:
Subject:
polson
Wednesday, January 20, 2010 9:59 PM
secretary
Regulation of Retail Forex
In re: RIN 3038-AC61
Mr. Secretary,
I am writing to express my concern over the audacity of the CFTC to propose such a debilitating regulation and
extreme dissatisfaction with the CFTC's decision to lower the leverage in retail forex accounts to a 10-to-1 ratio.
Not only will a change in the leverage ratio push a number of traders in my similar position out of the market, it will
also reduce the short term capital gains income to the Federal Government and reduce the liquidity of the forex
market.
In addition, unless you impose the same leverage requirement on oversees companies providing accounts to
American citizens, the proposed limitation will cause American forex merchants to loose a large number of
investors and taxable profit to oversees merchants.
As a hardworking American taxpayer and forex investor, I implore you to make the correct decision and withdraw
the proposed change to the retail forex account leverage ratio.
Regards,
PJ Olson
