Comment Text:
i0-001
COMMENT
CL-06213
From:
Sent:
To:
Subject:
Larry Horacek
Friday, March 5, 2010 12:38 PM
secretary
'Regulation of Retail Forex'
It
would appear that those who proposed the reduction of margin
limits to a maximum of 10:1 know little about the Forex market and
those who trade in it. In short, the provisions of RIN 3038-AC61 are
baseless and without merit. There isa wise adage which says, "Don't
try to fix something that isn't broken". The CFTC needs to relearn and
apply this maxim while at the same time removing its collective head
from the sand. For example, exactly
HOW does this provision help
Forex Traders? Also, exactly WHAT negative events have happened in
the Forex market that override the sustainment of a currently, well-
working system? Have the writers of the proposed
RI~ 3038-AC61
confused US banking regulation with the WORLD-WIDE FOREX
MARKET? By negatively regulating US traders, you disadvantage US
with all other
world-wide Forex traders.
The current US system
does NOT need RIN 3038-AC61. Please immediately SCRAP this
ruinous idea.
