Comment Text:
i0-001
COMMENT
CL-05657
From:
Sent:
To:
Subject:
Raevyn < [email protected] >
Monday, March 1, 2010 5:56 PM
secretary
Regulation of Retail Forex
To whom it may concern,
I am irritated by the new proposed regulation of this market. We do NOT need to be treated like we are children, nor need to
have 'mommy and daddy' watch over our transations and what we spend or lose. This 10:1 proposal should not be passed. If
it is, then many traders, myself included, will leave the US based brokers for overseas companies, which in addition to taking
away many MORE American jobs from the already damaged economy, will make tax enforcement that much more difficult as
well. In fact, I may be forced to have to LEAVE the United States because of it. Our government has become to big and
socialistic more and more and this is just another fine example of it getting worse.
I also do not like the proposal to require ALL FCM to be registered. Although a good idea in theory, to help slow and stop
scams, the fact is that unless you charge absolutely NOTHING to become registered and a member, you stand to make a
substantial sum of money for this (thinking your biased) and it wont really do much for scammers since they can go offshore.
Just BUTT out! We are doing fine and really, people need to be following the "buyer Beware" philosophy anyway!
Tom
