Comment Text:
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COMMENT
CL-02630
From:
Sent:
To:
Subject:
J. E. Seco
Friday, January 22, 2010 11:03 AM
secretary
Regulation of Retail Forex RIN3038-AC61
Attn: Mr. D. Stawick
From: J. E. Seco
As a retired cardiologist, and an active trader for several years, I have seen my share of extreme
situations.
The current regulations intended for the Forex Retail industry belong to that "extreme" category.
They will not affect the industry survival, they will keep growing out of our country; but they will
destroy the small individual investor and the forex american market as we know it.
Very few individuals will be able to fund a decent account for trading with a 1:10 leverage.
It will not affect me in particular, but thousands of beginners will be unable to do any significant inroads
with accounts below 1 OK.
I support tighter regulations on the markets and banking industry, but there is a big difference between
such regulations and "gagging" restrictions that are against the fundamental freedom of our economicl
arena.
Sincerely,
J. E. Seco
