Comment Text:
i0-001
COMMENT
CL-02601
From:
Sent:
To:
Subject:
Stephen Girouard
Friday, January 22, 2010 10:40 AM
secretary
new forex proposals
Hi.
I just wanted to comment on new regulations that are being proposed. I am a fairly new fx trader but
have heard many responses to the new rules, the hedging and FIFO also. No one in the trading
community likes these changes. It is one thing to oversee brokers to protect traders from unscrupulous
activities, but the answer for traders is education. Most of the traders I hear from say they will not be
trading in the US if this new leverage rule is passed. Many have already opened overseas accounts and
that number will increase dramatically with this new rule. All that will be accomplished is a loss of US
business and income. Nothing of value will be gained. We don't begin to understand what is really going
on in the minds of those who are pushing these rules, perhaps there is a hidden agenda, like with most
things in high places these days. Let people choose their own leverage. We are all grown-ups. The
foolish will always find ways to throw away there money. Simply put, I know that neither the brokers
nor the traders appreciate what you are trying to do, so please leave us alone. Look out for the bad guys
for us. Make them accountable for being fair and truthful to traders. That would be great. Thanks for
your time and consideration.
Steve Girouard
cell: 828-713-9790
