Comment Text:
i0-001
COMMENT
CL-06825
From:
Sent:
To:
Subject:
Jay Meisler
Friday, March 12, 2010 7:37 AM
secretary
Regulation of Retail Forex
I would like to comment on the proposals for regulation as per RIN 3038-AC61
Rather than reducing leverage to 10:1 and driving the retail forex
business offshore, where there is less regulation and thus more risk to
the investor, I have another idea. As part of the account opening
process, the CFTC should draft an education document on leverage,
including pointing out the dangers of excessive leverage and require
retail forex brokers to provide it to all new clients as part of the
account opening process.
In my opinion education is a far better tool to regulate markets than
excessive requirements that would the drive the business offshore.
Regards
Jay Meisler
