Comment Text:
i0-001
COMMENT
CL-05045
From:
Sent:
To:
Subject:
Davis, Robert
Friday, February 5, 2010 9:40 AM
secretary
Regulation of Retail Forex
RIN 3038-AC61
The CFTC has seemed to be interested in over regulating the forex industry for a while now. Most
recently a regulation was put into place that prevented hedging. Once this happened I moved my account
overseas. I was just considering bringing my account back to the us and using a us based company when
I find out that you are trying to pass regulations to prevent leverage of more than 10:1. this would
effectively prevent many people from trading the forex market in the US and will simply continue to
drive business overseas. Once that happens many of the us based companies will have to downsize
creating more layoffs in a difficult economy. Companies certainly need to be monitored for fair business
practices but there are better ways to do it than passing regulations that will simply drive people away
from the US.
Sales & Service Agent
AAA Michigan
(616)447-2744
