Comment Text:
i0-001
COMMENT
CL-04717
From:
Sent:
To:
Subject:
Richard Cecil
Monday, February 1, 2010 10:41 AM
secretary
Regulation of Retail forex
Dear Secretary:
With regard to proposed regulations concerning retail forex let me state: You cannot regulate against
greed, stupidity, or corruption. You can, however, punish harshly those that choose to ignore current
regulations. Someone 30 years old who is sentenced to 15 years will realize that he/she will be 45 upon
leaving incarceration and no prospects. Others will get the message. Beef up enforcement and not the
regulation book.
As for me I will go offshore with my account if the 10:1 leverage proposal is enacted. Forex and
insurance is a risk business and while there needs to be regulations, dictating risks is a non-starter.
Thank you, Dick Cecil
