Comment Text:
i0-001
COMMENT
CL-03611
From:
Sent:
To:
Subject:
Stelios Dimitriou
Sunday, January 24, 2010 7:41 PM
secretary
Regulation of Retail Forex
RIN 3038-AC61
90% of the account will go offshore, mostly to the United Kingdom
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Thousands of high educated jobs will be lost
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An industry worth over $1 billion gone, loosing millions in taxable revenue.
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The proposal does not fix fraud, the subject the rule tries to adjust. Battle against unlicensed FDMs and
IBs fix the fraud, not 10 to 1 leverage.
- 100 to 1 leverage is very popular. Traders simply will not accept 10 to l leverage.
- Unregulated dealers from around the world will also benefit.
