Comment Text:
i0-001
COMMENT
CL-00514
From:
Sent:
To:
Cc:
Subject:
David Cloer
Tuesday, January 19, 2010 12:37 PM
secretary
[email protected]
Regulation of Retail Forex
Dear Sir:
I am a retail forex day trader and I wish to comment on the proposed regulations in RIN 3038-
AC61 and specifically as to
the proposed leverage requirements for traders doing business in the United States.
Presently, I exercise strict control over my margin account under the current leverage
requirements of 100-to-1. Should the
Commission impose the proposed leverage requirement of 10-to-1 on all accounts in the
United States, I would be at a grave
trading dis-advantage with respect to global traders not subject to these restrictions - such that
I would have to consider closing
my account and to cease all currency trading activities which I now enjoy very much.
I urge the Commission to refrain from reducing the maximum current leverage requirement to
10-to- 1.
Thank you,
David L. Cloer
(804) 379-8119
[email protected]
