Comment Text:
i0-001
COMMENT
CL-03603
From:
Sent:
To:
Subject:
Mindy Yost
Sunday, January 24, 2010 7:09 PM
secretary
Regulation of retail forex
Dear CFTC,
Once again, your organization is showing how detatched you are from the reality of a venue you have been
charged to regulate. I am speaking, of course, about Retail Forex. I have been involved in the Spot Forex for
years, and was one of the strongest supporters of regulation. It sickens me to see what you have done to date
regarding the regulations you have put in place. You are truely making a mockery of yourselves and your
authority. It becomes more obvious with each new "rule" you throw out there, that you have NO
UNDERSTANDING WHAT-SO-EVER of what Retail Forex is about, how it works, where the real problems
originate, or why it should be preserved as an investment alternative for the individual trader.
I could list here the myriad of reasons why the Leverage reduction to 10:1 is a bad idea, but I am sure you will
hear those reasons from thousands of others who will write to you. But add me to the list of those who think that
you are WAY OFF BASE with this, just as you were with the FIFO and the Hedging ban.
If you people ever want to actually hold a forum with real traders to help you understand Retail Forex and how to
regulate it in a logical and functional way, please feel free to give me a call. I would be more than happy to
participate.
Mindy Yost
913-339-9221
[email protected]
