Comment Text:
i0-001
COMMENT
CL-04716
From:
Sent:
To:
Cc:
Subject:
Kate Prior
Monday, February 1, 2010 10:21 AM
secretary
COTchanges
Regulation of Retail Forex
Dear Mr. Stawick:
I'm an employee of a Michigan-based forex dealer. My company, GFT, is one of a handful of companies in our
state that are actually expanding and hiring in this economic crisis. Adding the 10:1 ruling to the law would
change all of this, making the company I work for one more casualty to the ever growing list of faltering
Michigan businesses.
Since 2001, FXDC members have added an estimated 1,500 employees to their companies in the United States
alone. When the economy is faltering and so many other financial institutions go unregulated, it's clear that this
is NOT the time for the CFTC to propose rules that would eliminate valuable high-tech service jobs, leaving
thousands of additional Americans unemployed.
Furthermore, if these regulations are passed, unregulated dealers from around the world will be the
beneficiaries of the 10 to 1 leverage rule. These unregulated forex dealers don't have to worry about capital
requirements, risk management models, marketing ethics, dealing practices or even returning a customer's
funds. These dealers will be out of the reach of the CFTC and they will thrive.
Sincerely,
Katerie Prior
Katerie Prior
Marketing Communications Specialist
[email protected]
GFT
618 Kenmoor Ave. SE
Grand Rapids, MI 49546
D 616.956.9273 x10176
I
F 616.974.3682
www.gftforex.com
DISCLAIMER: GFT refers to Global Futures & Forex, Ltd. and all of its divisions, branches and subsidiaries, including Global Forex Trading, GFT
Futures, FX360, GFT Global Markets Asia Pte. Ltd., GFT Global Markets UK Limited and GFT DMCC. Global Futures & Forex, Ltd., doing business as
Global Forex Trading and as GFT Futures, is registered with the U.S. Commodity Futures Trading Commission as a futures commission merchant and
is a member of the National Futures Association. In Japan, Global Futures & Forex, Ltd. is registered with the Financial Services Agency as a financial
instruments firm and is a member of the Financial Futures Association of Japan. In Australia, GFT refers to Global Futures & Forex, Ltd., ARBN 103
508 461, Australian Financial Services License number 226625. For Australian investors, a Product Disclosure Statement (PDS) is available from the
company website www.gft.com.au. Interested parties should read and consider the PDS before making any decision to deal in GFT products. In the
United Kingdom, GFT is the business name of GFT Global Markets UK Limited, which is registered in England and Wales (Registration No. 5394757),
with registered address of 34th Floor CGC 34-03, 25 Canada Square, London E14 5LQ, and is authorised and regulated by the Financial Services
Authority. In Singapore, this information is made available to you by or for GFT Global Markets Asia Pte. Ltd. (Company Registration Number
200717665N). In Dubai, GFT is the business name of GFT DMCC, where GFT is Registered & Licensed as a FREEZONE Company under the Rules
and Regulations of DMCCA, License Number DMCC-31136.
TM
Any image containing GFT's lion head, GET
TM,
CFD 360 , Chart Studio®, DealBook®, Foresight-A.I.
TM,
FX 360®, Spread Betting 360
TM,
are either
registered trademarks or trademarks of Global Futures & Forex, Ltd., in the United States and/or other countries. The absence of a name or logo in this
list does not constitute a waiver of any and all intellectual property rights that Global Futures & Forex, Ltd. has established in any of its trademarks,i0-001
COMMENT
CL-04716
service marks or Iogos. All other trademarks, service marks or Iogos are the property of their respective owners.
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