Comment Text:
i0-001
COMMENT
CL-01982
From:
Sent:
To:
Subject:
Simon Bossie
Thursday, January 21, 2010 4:39 PM
secretary
Hi
I am a professional Share and Forex Trader, I live and work in Australia, I currently trade Foreign
exchange with MB Trading in California. I read with interest your proposed rule changes to leverage in
Forex in the USA.
If these changes go through many retail traders such as myself will be forced to use a broker outside of
the USA and take capital away from these firms, and effectively make them uncompetitive. Ultimately
without big trading accounts many of them would go bankrupt under the proposed changes.
I dont really understand what this rule change would achieve, if you are trying to arrest the cowboy
actions of a few by punishing the smaill retail guy then your aim is very misguided, as most will get
their funding from London, Tokyo, Sydney etc.
I am no defender ofMBT, I have no affiliation to them, other than as a customer, but I dont see
regulation which effectively just pushes business offshore as very intelligent or smart rather a knee jerk
political action. Would it not be better to work with the industry and ask them how to achieve your
goals. All this rule does is punish the little guy the ones responsible for a lot of the sillyness that have
gone on have the means to go elsewhere and no doubt will.
Thanks for allowing me the time and space to comment.
Kind Regards
Simon Bossie
