Comment for Proposed Rule 75 FR 3281
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From:
Ron
Organization(s):
Comment No:
2359
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-02359
From:
Sent:
To:
Subject:
Ron < [email protected] >
Thursday, January 21, 2010 11:24 PM
secretary < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
To CFTC,
I am writing to oppose the 10-1 leverage limitation that the new proposal brings forth as stated
in
Release: 5772-10.
The CFTC's attempt to reduce fraud in retail forex is admirable, however reducing the leverage will not reduce fraud in the
industry, instead this will only drive users of the FX products away from American brokers thus destroying valuable American
jobs in the industry and related fields. There are better ways to reduce fraud in retail forex such as require minimum
capitalization. You need to get rid of the leverage limitation an new regulations that will be put forth and use better methods of
regulation to ensure the health of this great American industry!
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