Comment Text:
i0-001
COMMENT
CL-07363
From:
Sent:
To:
Cc:
Subject:
Brian Kennedy
Saturday, March 13, 2010 4:02 PM
secretary
[email protected]
Regulation of Retail Forex
Dear Sir or Madam,
This email is to express my opinion regarding the proposed change as defined in RIN 3038-AC61 to the
leverage allowed in retail spot Forex trading. Reducing leverage from 100:1 down to 10:1 would have a
serious, immediate and negative impact on all Forex brokers and the trading community. Since he vast
majority of the trading public trades with small accounts with high leverage - as a supplemental
investment class - this change will most likely result in a huge mass exodus of retail Forex customers. It
would put many of brokers out of business, with the attendant loss in employment, and drive most retail
Forex trading overseas. In a time when our economy is suffering, this is not a time to kill business, raise
unemployment and drive business away from the U.S. market. This change is a terrible idea that has not
been well thought out.
Regards
Brian Kennedy, FXDD Retail Customer
