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COMMENT
CL-04203
Wednesday, January 27, 2010 12:44 AM
Emailing: Angry about new "regulations of Retail Forex"e
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Angry about new regulations
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.handledTo Ms David Stawick And whom it may concern.
Subj ect : ' Regulation of Retail Forex'
RIN 3038-AC61
I am a money manager residing in the US, trading foreign exchange
for a living both for myself and my clients.
Due to my track record and accumulated returns, I have managed to
attract a large number of individual investors to join my managed
portfolio and reaching my final goal of 25m USD.
My system, used for gaining a positive return in these markets
was largely based on the leverage I used and the relatively low
margin needed by my clients in order benefit from my services.
With the impending news of a new regulation that will permit the
use of a maximum leverage of i:i0, I will not be able to continue
conducting my business in the US, which was a warm, comfortable
home for me until now.
Therefore, I will be forced to migrate to Europe, potentially
risking my business, my client relations and my reputation in the
field and much more for what seems to be an unreasonable whim
that just might bring the end of FX trading as we know it today.
With all due respect, I urge you not to legislate this law as the
consequences will be the sever for many citizens such as myself
and to the Forex industry as a whole,
Kind regards,
Benjamin P.
Portfolio Manager
Los angeles, CA
