Comment Text:
i0-001
COMMENT
CL-04022
From:
Sent:
To:
Subject:
Dr.Oliver Seifert
Tuesday, January 26, 2010 9:31 AM
secretary
Regulation of Retail Forex
The proposed 10 to 1 leverage rule will be a boon to foreign forex dealers (both regulated and
unregulated) who will grow entirely at the expense of retail forex dealers in the United States.
Thousands of high paying jobs will be lost and the potential for tens of thousands of more jobs will
forever vanish as well. Consumers will be hurt and more vulnerable to fraud. And the United States will
toss away one of the most promising export industries that it has, all in the midst of 10%
unemployment.
Having left Europe 10 years ago, I had hoped that the US American Free Market Economy would allow
me to escape from the grips of European-style over-regulation. Yet, with the proposed changes looming,
I personally have already decided to establish accounts with a UK Forex Dealer. Thousands of others
will follow.
I urge you to reconsider the proposed changes.
Dr. O. Seifert
