Comment Text:
i0-001
COMMENT
CL-05012
From:
Sent:
To:
Subject:
Attach:
Floyd, Sharon J
Thursday, February 4, 2010 4:57 PM
secretary
Comment letter forex.docx
Comment letter forex.docxJill Sommers
Commissioner
U.S. Commodity Futures Trading Commission
Three Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581
www. cftc. go v
(202) 418-5030
(202) 418-5067 Facsimile
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
Comment File
Commissioner Jill Sommers
February 19, 2010
Proposal to Regulate Off-Exchange Retail Foreign Exchange Transactions
and Intermediaries
On February 4, 2010, Commissioner Sommers met with representatives of the retail forex
industry to discuss the Commission's proposed rulemaking regarding the regulation of retail
foreign exchange transactions and intermediaries. Present at the meeting were Glenn Stevens,
CEO of GAIN Capital; Charlie Delano, Director of Government Affairs for Forex Capital
Markets; and Mary Clare Fitzgerald and Jeff Tassey, consultants to GAIN Capital. Also present
were Marcia Blase and Andrew Morton of Commissioner Sommers' staff. The discussion
focused primarily on the proposal to restrict leverage in customer accounts to a 10-to-1 limit.
