Comment Text:
i0-001
COMMENT
CL-03419
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Se.t:
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[email protected]
Saturday, January 23, 2010 10:59 PM
secretary
Public Submission for 2010-00456
Public Submission for 2010-00456.zip
Please refer to the attached file.Please Do Not Reply This Email.
Public Comments on Regulation of Off-Exchange Retail Foreign Exchange Transactions and
Intermediaries:
Title: Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries
FR Document Number: 2010-00456
Legacy Document ID:
RIN: null
Publish Date: Wed Jan 20 00:00:00 EST 2010
Submitter Info:
first name Rick
last name Borland
address1 15616 E 3rd Terr S
city Independence
country United States
us state MO
zip 64050
company
First off I'd like to know how this proposed regulation is part of a "Farm Bill". What does
farming have to do with retail forex leverage? I think the fact two items which have absolutely
nothing to each other are being combined together show just how insane this proposal really
is.
Second, I don't understand how this will do anything other than destroy retail forex in the US.
Is that the intent of this regulation? If it is, it will succeed and drive all the current US traders
to brokers out of the country where we can trade with high enough leverage we actually stand
a chance to make money without having to risk a tremendous amount of capital.
Third, why does the government insist on adding to the staggering number of the employed
because if this proposal becomes an enforceable regulation the brokerages will shut down
US based offices and put their employees out on the streets.
I strongly oppose this proposal.
