Comment Text:
i0-001
COMMENT
CL-03835
From:
Sent:
To:
Subject:
Phillip L. DePorter
Monday, January 25, 2010 4:37 PM
secretary
Regulation of Retail Forex
Dear Secretary:
On January 13, 2010, The Commodity Futures Trading Commission (CFTC)
released a public proposal, Regulation of Off-Exchange Retail Foreign
Exchange Transactions and Intermediaries, which imposes new requirements
on the U.S. Forex industry. The proposal significantly changes the
leverage permitted on certain accounts and, if passed, would have a
drastic effect on retail investors. In the CFTC proposed regulation,
leverage in retail forex customer accounts would be subject to a 10-to-1
limitation.
I wish to voice my EXTREME DISPLEASURE with the proposed changes for
margin requirements on the US Forex industry. As an individual investor
with over 30 years experience in general, and with almost two years
experience in Forex, I really don't need Big Brother telling what I may
or may not do with MY MONEY. I thoroughly perform due diligence
research before investing with any company in any market. I wish many
more people would perform an equally rigorous due diligence research on
the politicians before they voted for them.
Sincerely,
Phillip L. DePorter
