Comment Text:
i0-001
COMMENT
CL-00139
From:
Sent:
To:
Subject:
Kevan
Friday, January 15, 2010 10:54 PM
secretary
Regulation of Retail Forex
Hello,
I am really upset about the laws that are trying to be imposed to supposedly make us safe traders. I am
referring to:
RIN 3038-AC61.
How am I supposed to make a living if you change the maximum
leverage of my trading account here in the US to only 10:1 (ten to one)? This would totally hamper my
ability to earn enough money to live on. It would take even more money in my account to make less
than I do now. I doesn't make sense. If you limit my earning potential with this kind of restriction, I
will take my six figure account and put it in an offshore account where I can earn a decent amount of
money. Everyone I know will be doing the same if you limit our incomes like this.
Also, if you are going to require a minimum 20 million dollar to start up a brokerage firm here in the
US, that will only drive more businesses to go offshore where there are less regulations. As brokers
move offshore, that will be taking more money out of the US economy and more lost j ob s.
This idiocy that you are trying to pass is not going to work because even if you close the loopholes and
get everyone registered that will register, it won't matter much because everyone I know will have
moved their money offshore and there won't be many brokerages here in the US to worry about.
I know this is a BAD IDEA for the US and for me and my friends. Thanks but no thanks.
Sincerely,
Kevan Ausitn
