Comment Text:
i0-001
COMMENT
CL-03017
From:
Sent:
To:
Subject:
John Yarbrough
Friday, January 22, 2010 8:48 PM
secretary
In Regard to Proposed Regulation of Retail Forex
Hello,
am John H. Yarbrough Jr.
am writing to you in regards to proposed regulation changes to the foreign currency trading industry.
would applaud certain regulatory changes that would protect forex traders in relation to scams and unfair trading
~ractices.
would find it fiduciarily responsible of you to engage in making sure that there is a level of risk at the broker level
based on
broker reserves to order matrix threshold value. Or any number of ways that does not inhibit leverage below what
exists.
I am vehemently opposed to lowering leverage for Forex traders to less than 100:1 here in the United States.
this will basically disadvantage all traders and make it impossible for all but the most affluent five to ten percent of
Forex traders
from participating at a level to make it work operating due to monetary constraints. Also this could put traders in
the United States at a disadvantage with brokers in other countries.
There are other methods and ways to approach this issue other than to pass bad regulation that will affect
individual traders and our economy adversely.
This should be performed at a level and in a manner that holds the broker to accountable while still being able to
operate
without the trader being penalized.
I would implore you to find a more advanced intelligent method to address regulatory concerns than just to take
the blanket simple leveraged way out in a bad attempt to solve a regulatory concern that will have other
downsides to it
that will impact the US economy.
Sincerely,
John H. Yarbrough Jr.
7924 Hayfield CT
Fort Worth, TX 76137
