Comment Text:
i0-001
COMMENT
CL-03156
From:
Sent:
To:
Subject:
Tony Swift
Saturday, January 23, 2010 7:40 AM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
Dear Sir/Madam,
I would like to register my objections on the current proposal for limiting leverage on Forex retail
accounts to 10:1.
Let me be clear from the outset here that I am not a citizen of the USA but an account holder. This
proposal would not only make it impossible for the small investor to operate safely and efficiently
( please study how margin calls operate ) but would reduce competition and ultimately force
investors like myself who currently have dollar accounts under the administration of US institutions
to look elswhere. It is almost certain that someone else will offer what is wanted. The Forex
industry in the US is huge and growing, and the related support industries all gainfully and
honestly employ US citizens in account management, training, Books, articles, regulation etc.
I am all for regulation and protection of the small investor but I would respectfully urge you not to
overeact. To use an old English saying, this proposal appears to "throw the baby out with the bath
water"
You rs faithfully.
Tony Swift
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