Comment Text:
i0-001
COMMENT
CL-04943
From:
Sent:
To:
Cc:
Subject:
Robert Dennard
Thursday, February 4, 2010 7:58 AM
secretary
[email protected]
Regulation of Retail Forex
Dear CFTC,
The most obvious and pervasive impact that the proposed "10 to 1" regulations will have on the US
retail market is that virtually every smaller trader - the "little guys" with an account in the US will move
their account elsewhere.
Most of us "little guys" who utilize the retail forex market for an investment supplement or livelihood
will be gone the week the proposed regulations take effect.
If the destruction of the retail forex market is the motivation of the regulation, then that goal will be
swiftly and finally effected.
In my opinion, there's a certain "freedom issue" here that is at stake as well.
IfI choose to have a beer and watch a ballgame - that's my business as I am >18 and of somewhat sound
mind.
If I choose to buy 100 proof whiskey and get puking drunk - that's my business too - as long as I don't
infringe on someone else's property or person.
The argument leads to that in neither case of my proposed drinking is it any of the beer or liquor
companies' obligation or right to monitor, limit or otherwise interfere with my drinking.
The current leverage parameters available to US investors - as they are available to all international
investors in other environments - even staid old Switzerland - "ain't broke" - so maybe US regulators
should take a step back from "fixing it" with any onerous protections that destroy the industry here and
promote that industry to thrive somewhere else.
Please consider this basic aspect of the proposed leverage regulations and focus on other areas of the
industry that do need attention.
Best regards,
Rob Dennard
