Comment Text:
i0-001
COMMENT
CL-00999
From:
Sent:
To:
Subject:
Justin LeBlang
Wednesday, January 20, 2010 2:45 PM
secretary
Regulation of Retail Forex
Dear CFTC,
I am currently an employee for MB Trading Futures, particularly working in the Forex division of the company.
Due to your recent proposal, and the feedback I am receiving from our clients and traders of other firms, I feel
obligated to send you an email as I'm sure many others have. I fear if you pass these new regulations, specifically
the 10:1 leverage that you will see a mass exodus of US accounts to overseas brokers. This is obviously not the
intent of the CFTC, but certainly an unintended consequence of your actions. This will potentially have a direct
effect on my job stability and my ability to provide for my family and responsibilities. With the current economic
climate, I am concerned finding another job will be difficult and frankly I don't want to. I have worked for MB for
5 years and am very happy.
I urge you to reconsider and to think of the thousands of employees around the country, who could find
themselves without a job, if traders choose to leave US brokers for brokers that offer much less regulation.
While I understand and support oversight, you have to look at the bigger picture. []1 believe your focus should
be on broker risk management systems, IB's, money managers and fraudulent organizations.
If the goal is truly to protect traders, than do what is in their best interest without tempting to leave for less
regulated firms.
Sincerely,
Justin LeBlang
