Comment Text:
i0-001
COMMENT
CL-04487
From:
Sent:
To:
Subject:
Aaron I Cohn MD
Friday, January 29, 2010 6:48 PM
secretary
Regulation of Retail Forex
Re: ID RIN 3038-AC61
Sir:
While the proposed change in margin requirements does not affect me, since I have already taken my and my capital
to a place beyond your regulation, I still feel obligated to comment on yet another idiotic proposed regulation that will
drive even more forex business out of the country.
Frankly, I can't understand why anybody in his right mind would still be trading with a forex broker you regulate. I
think anybody with an IQ higher than a house plant would have already gotten the message that NFA/CFTC brokers
operating in the US are simply unfriendly trading venues given all the "no hedging" and "FIFO" headaches one must
contend with, but your commission seems totally hell-bent on driving business and the liquidity that comes from it
out of the country. Raising margin requirements to 10:1 is really, really stupid.
In the final analysis, I don't care any longer what you cretins do, since I long ago made sure my money is beyond the
reach of your regulation. But this latest monstrosity will simply make many others do the same thing. The result will
be a further loss of trading and liquidity in this country.
Very Truly Yours,
Aaron I. Cohn, M.D.
2929 Cypress Drive
Harlingen, TX 78550
USA
