Comment for Proposed Rule 75 FR 3281
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From:
Ruth Midaks
Organization(s):
Comment No:
3053
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-03053
From:
Sent:
To:
Subject:
Ruth Midaks
Friday, January 22, 2010 10:24 PM
secretary < secretary@ C FTC. g ov >
Regulation of Retail Forex
RIN 3038-AC61
Gentlemen,
I am most concerned that you are proposing changes to your rules one of which is:
"to collect security deposits in a minimum amount in order to prudentially limit the leverage
available to their retail customers on such transactions at 10 to 1 ";
This change will hamper all prudent, cautious traders.
It will severely limit retail entrants to the financial market.
Is it your aim to rig the market up as a sole preserve of the already well-endowed wealthy class.
Traders and investors are well-informed risk-takers and do not require your strait-jacket
regulations.
Rather, your attention should be paid to the counter-party, the market-makers, the brokers, and
the financial institutions.
Sincerely'
Ruth
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