Comment Text:
10-002
COMMENT
CL-07851
From:
Sent:
To:
Subject:
Jasper Klootwij k
Wednesday, March 10, 2010 5:15 PM
secretary
Regulation of Retail Forex
RIN 3038-AC61
In my opinion the restriction of forex leverage to 10:1 is out of place. Considering the number of Forex
frauds published on the CFTC website it is difficult for me to understand how consumers are protected
by having to place more money with Forex firms. Persons in the Forex markets understand the risks and
the way of the market. Yes, there are people who don't take the time to learn and lose there money, but
they can lose the same amount in the casino. This rule is killing a lot of retail investors and potentially
taking income from them that they have to generate somewhere else, or have to borrow money to cover
for this. This may result in problems with a similair magnitude on a personal level but in a different area,
therefore shifting the problem to another area rather then solving it.
I sincerely hope CFTC will not effectuate this specific article of the regulation proposal.
Regards,
J. Klootwijk
Netherlands
