Comment Text:
i0-001
COMMENT
CL-00261
From:
Sent:
To:
Subject:
Josh Vaughn
Sunday, January 17, 2010 5:33 PM
secretary
Regulation of Retail Forex
RIN 3038-AC61
To whom it may concern,
Please consider this message a vote of
no support
regarding the proposed leverage cap of 1:10 for
retail Forex.
High leverage is one of the unique aspects of the retail FX market that attracts business to this
venue. I fear that a cap of 1:10 on that leverage would have a severe negative impact on this
business in the United States driving customers to businesses overseas or to unregulated
brokerages.
As well, individuals who are accustomed to using high leverage would be forced to keep larger
amounts of capital in their FX brokerage accounts which don't benefit from the same protection
as equities accounts do (SIPC).
Please reconsider the proposed leverage cap.
Thank you,
Josh Vaughn
