Comment Text:
i0-001
COIMMENT
CL-06066
From:
Sent:
To:
Subject:
Scott
Friday, March 5, 2010 9:45 AM
secretary
Regulation of Retail Forex
Regarding ID number RIN 3038-AC61
Please do NOT do th~s! Or at [east DELETE the part that ~ncreases the m~n~mum margin requirement to 10 percent (10-to-1
leverage) on retail Forex accounts.
I am a retail Forex customer and I have been working on my own small bus~ness ~n the Forex ~ndustry. I am getting ready to launch
my new bus~ness. If th~s proposed regulation of 10:1 leverage (10%) ~s enacted, my new small bus~ness m~ght not even get off the
ground because my new customers won't be able to make any money and the margin requirements w~[[ be too h~gh to even open
an account.
Forex dealers already have natural ~ncent~ves to keep their customers from losing more money than ~s ~n their accounts, because
then ~t would come out of the Forex dealer's own account.
I have been working on my bus~ness so long and I am f~na[[y about to launch. I already have enough obstacles to getting my
bus~ness off the ground; th~s could k~[[ ~t before ~t even starts.
Thank you for your consideration,
Scott Frank
