Comment Text:
i0-001
COMMENT
CL-04397
From:
Sent:
To:
Subject:
Charise Carter
Thursday, January 28, 2010 6:41 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 ruleproposal, 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.
Unregulated dealers from around the world will be the beneficiaries of the 10 to 1 leverage rule. These unregulated forex
dealers dont have to worry about capital requirements, risk management models, marketing ethics, dealing practices or even
returning a customers funds. These dealers will be out of the reach of the CFTC and they will thrive.
Charise Carter
Riverdale IL, 60827
[email protected]
