Comment Text:
i0-001
COMMENT
CL-04174
From:
Sent:
To:
Subject:
Michael Guglielmo
Tuesday, January 26, 2010 9:52 PM
secretary
Regulation of Retail Forex
I'm an investor in foreign currency through a U.S. dealer. I am very concerned about the proposed rules from the CFTC. The
CFTC's recent rule proposal, which would limit customer trading leverage to 10 to 1, would be a crippling blow to the U.S.
forex industry. This unsustainable rule would drive U.S. forex dealers, which brings tens of millions of dollars into the U.S.
banking industry each day, offshore into the hands of foreign competitors. It would encourage fraud both at home and abroad
as customers seeking to trade retail forex would have no other legitimate domestic alternative. As an investor, I would be
forced to take my business outside of the United States.
