Comment Text:
i0-001
COMMENT
CL-01507
From:
Sent:
To:
Subject:
Hawley Forde
Thursday, January 21, 2010 3:04 AM
secretary
Regulation of Retail Forex
It has come to my attention that there is another round of proposed regulation in the retail forex industry,
RIN 3038-AC61. Why is this even being considered? Please tell me where this will have a positive
effective? What is the intent? If you want to reduce risk what business is that of your? If you reduce
risk you also reduce profit and therefore taxes. In reality how many people does this really affect? Very
few in the macro scheme of things. So let me ask again, what is the intent and what is the purpose. It
appears to me that the CFTC has too much time on its hands and is trying to look busy therefore if you
produce more 'legislation' you look useful. Are other countries following suit in any of your
regulations? NO!!! because they seem to realize that risk is beneficial for greater profitability. Other
develpoed countries still maintain their 400:1 leverage while you took ours down to 100:1 and now you
want to go to 10:1. This is a global market and that means that they would have 40 times the ability to
profit over us. It seems that you do not understand that it also affects the investment money coming into
the US. Where ever more money can be made that is where the money flows.
This is bad regulation. If you need to regulate something then find something that would enhance the
profitability not hinder it.
