Comment Text:
i0-001
COMMENT
CL-04772
From:
Sent:
To:
Subject:
Mike Walker
Tuesday, February 2, 2010 7:51 AM
secretary
'Regulation of Retail Forex' ID number RIN 3038-AC61
David Stawick, Secretary
Commodity Futures Trading Commission
1155 21st Street, N.W.,
Washington, DC 20581
Dear David,
Regarding Regulation of Retail Forex" ID number RIN 3038-AC61"
The net effect of this proposed regulation will be to dampen down Retail Forex trading
volume to a great extent..
This will in turn lead to pushing valid well established American Retail Forex Companies out
of business, and at the same time put a lot people out of work.
Further this proposed regulation also threatens their customers in so much that their account funds are unprotected,
leading to possible total loss of deposits held.
The reasons for this proposal seem to stem from the banks fiasco. Ridiculous, when you consider that Retail Forex
Companies had absolutely nothing to do with companies like Lehman Bros except to get their market quote feeds
from them.
It was not this connection that brought the markets down, but propitiatory trading from
Investment banks connected mainly to derivatives.
Come to your senses before it is too late. This proposal is an embarrassment and a
disservice to the American people.
Yours truly
Mike Walker
