Comment Text:
i0-001
COMMENT
CL-02997
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[email protected]
Friday, January 22, 2010 7:59 PM
secretary
Public Submission for 2010-00456
Public Submission for 2010-00456.zip
Please refer to the attached file.Please Do Not Reply This Email.
Public Comments on Regulation of Off-Exchange Retail Foreign Exchange Transactions and
Intermediaries:
Title: Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries
FR Document Number: 2010-00456
Legacy Document ID:
RIN: null
Publish Date: Wed Jan 20 00:00:00 EST 2010
Submitter Info:
first name Feliks
last name Goltsman
address1 2279 East 22 Street
city brooklyn
country United States
us state NY
zip 11229
company
Mr. David Stawick, Secretary Commodity
Futures Trading Commision 1155 21st Street, N.W.,
Washington, DC 20581
Dear Mr. Stawick,
The proposal to limit leverage to 10:1 is regulatory overkill and a better solution is to have any
retail customer submit a written confirmation document stating they have read the CFTC/NFA
literature describing the mechanics and risks of forex to the forex broker opening an account.
Regulation needs to eliminate the unscrupulous brokers and let the people grow up by taking
the necessary risks without criminal interference.
This regulation will not control but rather supress the level of democratic fiscal activity in a
market with so much potential to educate and support many citizens of the world.
It is risk that creates wealth to the extent we all find necessary to live a self-sufficient life.
Thank you for your time and attention,
Feliks Goltsman
