Comment Text:
i0-001
COMMENT
CL-05485
From:
Sent:
To:
Subject:
John Lynch
Sunday, February 21, 2010 10:45 AM
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 would be another example of big government attempting to control free enterprise. This will seriously hurt
small investors, like me, who depend on FX trading. If you're so concerned about FX scams then go hunt them
down, but don't kill the whole damn industry! Help sustain our FREE MARKET, don't drive it out of the US.
John
John Lynch
Summit N J, 07901
[email protected]
