Comment Text:
i0-001
COMMENT
CL-07985
From:
Sent:
To:
Subject:
Mike Comb
Tuesday, March 16, 2010 4:18 PM
secretary
Regulation of Retail Forex
RIN :3038-AC61
I am writing this letter to express my opposition to proposed changes of the leverage limitations in regards to
Forex accounts. The change to 10:1 leverage is not needed. This proposed change is an attempt by government
to protect individual investors from the risk involved in forex activity. First of all I am putting my own money at
risk and it is my own business if I choose to accept this risk with the hope of substantial reward. As usual the
government is over-reacting to an issue that is not relevant to current financial conditions. This change would
create an anti-competitive environment for Forex brokers in regards to competition with banks that are not
regulated by CFTC. In addition, 10:1 leverage would also allow the entire U.S. Forex community to be
uncompetitive with global competitors. Thank you.
Mike Comb
Breaux Bridge, La.
