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Comment for Proposed Rule 75 FR 3281

  • From: Darrell Newton
    Organization(s):

    Comment No: 5274
    Date: 2/9/2010

    Comment Text:

    i0-001
    COMMENT
    CL-05274
    From:
    Sent:
    To:
    Subject:
    Darrell
    Newton
    Tuesday, February 9, 2010 2:52 PM
    secretary
    Regulation of Retail Forex
    I'm an investor in foreign currency through a U.S. dealer. I am very concerned about the proposed rules from the CFTC. The
    CFTC's recent ruleproposal, which would limit customer trading leverage to 10 to 1, would be a crippling blow to the U.S.
    forex industry. This unsustainable rule would drive U.S. forex dealers, which brings tens of millions of dollars into the U.S.
    banking industry each day, offshore into the hands of foreign competitors. It would encourage fraud both at home and abroad
    as customers seeking to trade retail forex would have no other legitimate domestic alternative. As an investor, I would be
    forced to take my business outside of the United States.
    This auto generated reply reflects my concerns completely..thank you Darrell
    Darrell Newton
    Briggs TX, 78605
    [email protected]