Comment Text:
i0-001
COMMENT
CL-05538
From:
Sent:
To:
Subject:
Segun Elusakin
Tuesday, February 23, 2010 12:59 AM
secretary
Advice On The New Leverage Proposal
Dear Secretary,
It's cool to know CFTC is willing to declare its presence by pushing forward a proposal, but if you did your research
properly, you'd know when the regulations on 100:1 leverage was enforced, over 90% of NFA regulated brokers opened
offices in the UK.
You know what that means? The brokers won't fall with you because if this proposal is passed, it will pursue brokers out
of US, and I'm sure, over 2000 Americans are employed by these stock brokers.
US is a big economy that understands the effect of unemployment. There are lots of countries that these brokers can move
to, and the regulatory bodies in these countries won't follow your proposal.
UK, Cyprus, Germany, Australia, Canada, the list is endless. None followed the 100:1 enforced leverage, and none will
follow this 10:1.
Think twice friends, think.
Regards,
Elusakin Segun
