Comment Text:
i0-001
COMMENT
CL-07607
From:
Sent:
To:
Cc:
Subject:
Morgan Fagerman
Monday, March 15, 2010 9:05 AM
secretary
[email protected]
Proposed regulations concerning retail Forex trading
Dear Sir/Madam,
I am concerned regarding the proposed new regulation pertaining to retail Forex trading (RIN 3038-AC61) which
would lower the margin allowed to 1:10. First of all, I do not see what the reason for this new change would be
and why it is called for. Second, the result would be that most of the current Forex retail trading business in the
US would really suffer from this regulation, and a lot of jobs and opportunities would be lost. And is this really
what we want to do in these times? Third, Foreign brokers would not have to adhere to this and the current retail
public would simply open accounts with overseas brokers, so it wouldn't solve any perceived problem here in the
US anyway, and could potentially cause more problems since you would have a larger part of the US Forex retail
public potentially affected by unscrupulous behavior by unregulated foreign brokers. So, what is the point of this
change? Please reconsider changing anything since, in my opinion, there is no urgent problem to solve here in
the first place.
Best Regards,
Morgan Fagerman, Managing Member
ITM Investments, LLC.
Office: 727-230-4930
Fax: 727-733-3880
