Comment Text:
i0-001
COMMENT
CL-07326
From:
Sent:
To:
Subject:
Kristen Lambert
Saturday, March 13, 2010 1:07 PM
secretary
Status?
Hello there,
Can you tell me the status of the proposed regulations of retail forex?
Kristen J. Bickham
214.405.5345
--- On Thu, 1/21/10, secretary
wrote:
From: secretary
Subject: RE: Regulation of retail forex
To: "Kristen Lambert"
Date: Thursday, January 21, 2010, 4:47 PM
Your submission has been received by the Commodity Futures Trading Commission. Please
be advised that this acknowledgement does not constitute either Commission approval of the
subject proposal or a determination that the proposal is consistent with the Act and the
regulations thereunder.
From: Kristen Lambert [mailto:[email protected]]
Sent:
Thursday, January 21,2010 1:58 PM
To:
secretary
Subject: Regulation of retail forex
Hello,
I'm writing to you to express my dissatisfaction and strong opposition to the proposal to reduce
the leverage allowed in the retail forex market from 100:1 down to 10:1.
This is an unjust proposal, and should NOT be passed as a legitimate regulation.
Furthermore, if enacted, it not only hurts the retail trader, but it also hurts the retail firms that
have worked so hard to build up their client bases. Retail investors will most certainly move
their accounts off shore in order to still get the advantage that 100:1 leverage allows.i0-001
COMMENT
CL-07326
Typically, regulations protect those firms that are regulated and harm the consumer. Examples
of this can be seen in unjust price regulation of insurance rates, the lack of inspections in meat
factories that continually put out contaminated meat, title insurance that must be bought by the
purchaser when homes are sold giving the title insurer a 97% gross margin, etc.
Government involvement in markets is not the solution. Government generally is the problem
and regulatory regimes are typically unjust and inefficient at best. At worst, they are
manipulated by those that they purport to regulate as the regulators are merely biding their time
until they can triple or quadruple their salaries by taking jobs in the firms they used to regulate.
The SEC is a classic example of the revolving door.
Please do not allow unjust regulation to enter this market. This proposal must not be passed.
Sincerely,
Kristen J. Bickham
214.405.5345
