Comment Text:
i0-001
COMMENT
CL-07929
From:
Sent:
To:
Subject:
Owen, Scott (Vernon)
Tuesday, March 16, 2010 2:16 PM
secretary
Regulation of Retail Forex
RE: RIN 3038-AC61
I would like to submit my opposition to 10:1 leverage limitation that is currently being proposed.
Since the CFTC was created with a mandate that would prohibit the CFTC from creating any
anti competitive rules and regulations in regards to its members. As I see it, 10:1 leverage
would do just that.
This change would create an anti-competitive environment for Forex brokers in regards to
competition with banks not regulated by the CFTC. In addition, 10:1 leverage would also allow
the entire United States Forex community to be uncompetitive with global competitors.
Regards,
Scott Owen
