Comment Text:
i0-001
COMMENT
CL-02600
From:
Sent:
To:
Subject:
Nancy Simmons
Friday, January 22, 2010 10:40 AM
secretary
Regulation of Retail Forex
Mr. Secretary,
I am a small retail investor in the foreign exchange market. I
appreciate your efforts to protect the solvency of large industrial
customers and to protect me. However, these efforts are not best served
by reducing the available leverage from 100:1 to 10:1. This is what
enables me to invest small amounts and be able to receive a reasonable
return. It's what makes the foreign exchange market attractive. The
ability to invest these same small amounts in the stock market is not
readily available. I protect myself by being able to invest a smaller
amount if that is what my account dictates. By lowering the amount of
available leverage you will likely cause smaller investors to risk
larger amounts in order to obtain similar results. I feel that rather
than protecting the consumer you may, in fact, be causing potential harm.
This may make sense for the large industrial investors so that they
don't put their shareholders' investments at risk, although I don't
think so, but it does not make sense for the retail consumer. Any
investor who isn't watching out for themselves already, will most likely
continue and find themselves investing larger amounts. I believe these
careless investors are the exception rather than the norm. It is my job
to look out for me and I hope you will allow me to do so.
Sincerely,
Nancy Simmons
3786 Glacier Park Way
Elk Grove, CA
(916) 683-2052
