Comment Text:
i0-001
COMMENT
CL-06071
From:
Sent:
To:
Subject:
D.Allen
Friday, March 5, 2010 9:49 AM
secretary
Regulation of Retail Forex
US markets are already "overly" regulated and this (forex) is an international OTC market that begs for the US regulators to STAY
OUT OF THE WAY! Please you~e done more than enough already in other markets, and it shows! This market poses no threat to
US market stability and the risk are well known and documented to those who chose to participate in OTC forex trading. If this market
is too leveraged and risky for some then they have the option to trade currencies at the CME where you (CFTC) have regulations in
place to safe guard this group. This legislation will only drive US based forex customers overseas to foreign brokers that will have a
competitive advantage over US brokers and lead to more complaints, disputes, fraud, etc...If anything initial capital requirements would
make more sense as was done with equity day trading...
With that said I ask that you PLEASE let the brokers decide what is the appropriate leverage to extend to it's
clients.
Thank you,
Donald Allen
RIN 3038-AC61.
