Comment Text:
i0-001
COMMENT
CL-03285
From:
Sent:
To:
Subject:
[email protected]
Saturday, January 23, 2010 2:03 PM
secretary
Regulation of Retail Forex
I've recently read about the leverage change proposed by the CFTC and after much reading and thought, I've
come to the conclusion that the proposed leverage change to a 10:1 ratio is a bad move. Your arguments about
how this will help reduce fraud and other issues just doesn't make sense. Abuse will still continue. The way to
help reduce that is by having more transparency at the broker arena. This will help educate the retail trader. If
people are intent on making bad decisions with their money - nothing's going to change that. Look at the housing
industry. People made bad decisions. Now, the plan is to regulate the banks more. Why do regulators always
think that more regulation will solve the problem. I yet have seen that process correct or solve anything. You have
to let people may their own decisions.
Glenn Pace
