Comment Text:
i0-001
COMMENT
CL-07029
From:
Sent:
To:
Cc:
Subject:
Jim Ranum
Friday, March 12, 2010 9:19 PM
secretary
[email protected]
RE: Comments on 'Regulation of Retail Forex'
My apologies, I forgot the following information:
RIN 3038-AC61
From:
Jim Ranum [mailto:[email protected]]
Sent:
Friday, March 12, 2010 9:17 PM
To:
'[email protected]'
Cc:
'[email protected]'
Subject:
Comments on new proposed rule for FOREX
Good day,
I understand the intent is to protect the many novice investors out there from hurting themselves, but this rule
is "throwing the baby out with the bath water".
Instead of removing leverage, why don't you place some hurdles for novice investors to have access to the
existing leverages??
How about requiring brokers to provide the 10:1 vehicles and require a certain level of trading experience to
gain access to the 100:1?
It appears more and more that government is going TOO FAR in trying to control EVERYTHING. It needs to stop.
People need to be taught personal responsibility. Instead of more RULES, how about more education?? How
about a RULE that requires brokers to provide solid understanding of how the system and their platforms work
and the risks? And not just a bunch of fine print of the regulations that NO ONE reads.
Please do not destroy opportunity for the sake of safety. That's called socialism.
Thank you,
James Ranum
Orlando, FL.
