Comment for Proposed Rule 75 FR 3281
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From:
Scott Wolfe
Organization(s):
Theta Capital Management
Comment No:
1349
Date:
1/20/2010
Comment Text:
i0-001
COMMENT
CL-01349
From:
Sent:
To:
Subject:
scott wolfe
Wednesday, January 20, 2010 11:12 PM
secretary
Regulation of Retail Forex
Identification Number RIN 3038-AC61
Dear Sir/Madam:
I have recently been made aware of your proposal to increae forex margin requirements by 10-fold.
This action will serve to do nothing but severely restrict and penalize my business, requiring me to tie-up far greater
amounts of MY CAPITAL--in order to realize the same income levels previously enjoyed .....key words are MY
CAPITAL!
The CFTC won't be happy until they force every broker in the US out of business ..... because I will simply close
my CFTC regulated accounts and transfer the money to my Dukascopy (non-CFTC) account--which I'm sure is what
most traders
will do.
I am sending this e-mail as a strong protest of your proposal!!
Scott Wolfe
President,
THETA CAPITAL MANAGEMENT
