Comment Text:
i0-001
COMMENT
CL-04042
From:
Sent:
To:
Subject:
Jim Kenyon
Tuesday, January 26, 2010 10:15 AM
secretary
Regulation of Retail Forex
I would like to comment on the proposal you have made. First, I
recognize the importance of regulation that strengthens industry
oversight. I agree with policing and regulating the industry, as was
Congress' intent when empowering the CFTC to create additional rules.
Many of the proposed changes would implement important consumer
protection regulations, which I favor.
However, one of the proposed changes would radically reduce Forex
trading by lowering the leverage from 100:1 to 10:1. This would
significantly impact the results of the trade and the amount of trading
by US investors. This produces a disadvantage for US investors in Forex
trading.
With considerable impact on the Forex trader, the subsequent taxes
collected would be significantly reduced.
Consequently, I don't agree with policies that clearly disadvantage
investors in the United States, which in turn disadvantage the taxes
collected from these US investors.
I urge you to reconsider this portion of the proposed regulations.
Regards,
James R. Kenyon, PhD
