Comment Text:
i0-001
COMMENT
CL-08057
From:
Sent:
To:
Subject:
Ismat Hafizi(GRCA)
Tuesday, March 16, 2010 9:19 PM
secretary
Regulation of Retail Forex
Dear Sir,
I wish to refer to the above subject.
I wish to share my view on the latest proposed 10:1 leverage by CFTC.
It is with deep concern that CFTC has decided to proposed such measure which directly affects the
retail forex segment.
As you may have known sir, there are individuals who trades forex for a living after the financial crisis
as a result of being downsized.
They may be lacking in terms of capital when it comes to trading in forex. Hence, most of the time, the
capital used to start trading would be limited (such as myself) as I just started working.
The proposed leverage by CFTC would deeply impact my trading as I will not be able to trading in the
forex environment in the USA. I prefer to trade in USA as a result of its highly regulated financial
markets (be it stocks, forex or commodities). Trading in USA gives me peace of mind and I do feel that
given the right opportunity, anyone could be a 'somebody' and prosper as USA is the land of
opportunity and land of the free. Hence, I would strongly seek your consideration to re-consider the
proposed leverage to be scrapped as it will directly impact my livelihood to earn an extra income for
living as it is already hard make a living nowadays with increasing cost of living.
Thank you for your time.
Best regards,
Ismat Hafizi Mohamed
Group Risk, Compliance & Audit
RIN 3038-AC61
