Comment Text:
i0-001
COMMENT
CL-00077
From:
Sent:
To:
Subject:
Helen Bruno
Friday, January 15, 2010 12:35 PM
secretary < secretary@ C FTC. g ov >
Regulation of Retail Forex RIN3038-AC61
I agree with the majority of the proposed regulations, except for the one restricting margin to
10: 1. This restriction creates an
unfair playing field among retail investors, favoring those with large amounts of money over
everyone else. It limits the meaningful participation of a large number of individuals. Just because
someone has a lot of money does not mean that person is or will be a better trader. Further I am
concerned this will lead to a loss of jobs and revenue in this industry at a time when the economy
is
already in such bad shape. I would think that regulation should be aimed at encouraging economic
growth and innovation rather then
restricting it. The need for more safeguards in the industry can be achieved in many other ways,
including the other good proposals in this legislation, without the negative effects of the margin
restriction. 100:1 is a much more reasonable level for margin to be set.
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