Comment for Proposed Rule 75 FR 3281
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From:
Lewen Tang
Organization(s):
Comment No:
3133
Date:
1/23/2010
Comment Text:
i0-001
COMMENT
CL-03133
From:
Sent:
To:
Subject:
sbansaOhoxun, com
Saturday, January 23, 2010 4:22 AM
secretary
Regulation of Retail Forex
To whom it may concern:
My name is Lowon Tang ,I am a forex trader in China and I have been using US
brokers for two years and very satisfied. Compared with other countries brokers,
the aspects of US counterparties appealing me, which I think apply to other
countries clients also, are:
1, Strong and respectable regulation bodies,
2, Sound and sophisticated financial infrastructure,
3, US as a country have a tradtion for the protection of international investors,
4, US based forex firms are generaly more financially solid and well-managed.
Regarding your recently regulation proposal, I fully agree to enhance industry
oversight, but I don"t like put any restrictions on leverage. Leverage is a very
important tool for us seeking financial freedom as your Amercian, and lowering
leverage dramatically like this will not only hurt our clients feeling but also
drive us to other countries (ie. unregulated) brokers despite above advantage. This
is not a win-win situation, it"s a lose-lose situation that you probably wouldn"t
expected.
Please reconsider your proposal.
Regards,
Lowon Tang
