Comment for Proposed Rule 75 FR 3281
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From:
David Byles
Organization(s):
Comment No:
719
Date:
1/19/2010
Comment Text:
i0-001
COMMENT
CL-00719
From:
Sent:
To:
Subject:
David Byles
Tuesday, January 19, 2010 4:51 PM
secretary
Regulation of Retail Forex RN 3038-AC61
Dear Sir,
I am concerned with the amount of regulations that have been put forth recently in regards to foreign
exchange trading. Is the 10 to 1 leverage pertaining to individuals or companies that trade for
customers? It is absolutely necessary to have financial requirements to ensure the financial integrity of
firms that trade for customers. On the other hand I cannot see any benefit in limiting leverage for
individuals who wish to set up accounts to trade Futures, S & P, Forex etc. Recent legislation has caused
US based Brokers to let go there Canadian accounts. (So now those customers go to European Brokers
to continue trading as usual). Be careful not to create a panic where everyone withdraws there trading
capital, because only the US Brokers will suffer...everywhere else will be trading as usual.
Sincerely,
David Byles
