Comment for Proposed Rule 75 FR 3281
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From:
Timothy Unkrur
Organization(s):
Comment No:
2000
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-02000
From:
Sent:
To:
Subject:
Timothy Unkrur
Thursday, January 21, 2010 5:06 PM
secretary < secretary@ C FTC. g ov >
Regulation of Retail Forex
On January 13, 2010, the CFTC announced proposed new regulations concerning retail foreign
currency transactions. Many of the proposed changes would implement important consumer
protection regulations, which I firmly favor. However, one of the proposed changes would radically
lower Forex leverage from 100:1 to 10:1 for all NFA and CFTC regulated Forex firms.
This change increases margin requirements, increases the amount of risk and reduces the number
of trading opportunities for all but the weathiest traders. This change will have the effect of forcing
small traders out of engaging in our endeavours to supplement retirement income.
Please reconsider this rule change and help minimize the growing gap where the middle class used
to be.
Best Regards,
Timothy Unkrur
