Comment Text:
i0-001
COMMENT
CL-02292
From:
Sent:
To:
Subject:
Rick
Thursday, January 21, 2010 9:35 PM
secretary
Regulation of Retail Forex
Hello,
I wanted to voice my strong opposition to the proposed changes for the U.S. Forex trading industry. At a time
when our economy is still fragile and unemployment is still at 10%, why would you pass legislation to essentially
force all U.S Forex brokers to move their operations off-shore to remain competitive in the global economy?
Thousands of U.S broker employees would lose their jobs and it will make it harder for retail traders like myself
to make a living trading the Forex, not to mention the tax revenue loss due to increased job loss.
In speaking with others with much more experience in these matters, it seems that you are willing to "punish"
the Forex brokers and reduce their leverage to make the commodities and options markets more attractive to
investors. This is counter to everything we, as Americans, stand for. We don't step on others to serve our own
interests. We find ways to be more innovative and visionary to provide a product or service that people would
be interested in.
I hope you'll reflect long and hard on the ramifications of the pending legislation and understand the negative
impact that it will cause in the U.S Forex industry.
Thank you for your consideration in this matter.
Regards,
Richard Cole
