Comment Text:
i0-001
COMMENT
CL-04375
From:
Sent:
To:
Subject:
Barry Lane
Thursday, January 28, 2010 3:12 PM
secretary
Proposed Regulation of retail FOREX industry
CFTC Regulator
Regulation can be a good thing to protect individual retail forex investors from fraud. Over regulation,
on the hand is negative for investors and brokers alike. My background: I am a small time retail forex
investor. I don't risk money that I can't afford to lose. Should your proposal to limit leverage to 10:1 in
the US retail Forex industry become law, I will be forced to close my account and open a new
account off shore.
The perplexing question I have in my mind is why would you do this? Please don't give this question
lip-service by saying it is for the protection of the investors. That would insult my intelligence and that
of most retail Forex investors. You know and retail Forex investors know that should this proposal
become law it will destroy the retail Forex industry in the United States. It will likely cost thousands of
US jobs, close businesses, create further distrust and animosity towards the government and ultimately
increase the flow of US dollars to off shore.
So as stated earlier, my big question is why?? What are you thinking?? I don't really expect an answer,
but as a concerned American citizen I have to ask.
Sincerely,
Barry Lane
Sacramento CA
barrylane01 @yahoo.com
