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Comment for Proposed Rule 75 FR 3281

  • From: Steve Baker
    Organization(s):

    Comment No: 8136
    Date: 3/17/2010

    Comment Text:

    i0-001
    COMMENT
    CL-08136
    From:
    Sent:
    To:
    Subject:
    Steve Baker
    Wednesday, March 17, 2010 5:47 AM
    secretary
    Regulation of Retail Forex
    I'm an investor in foreign currency through a U.S. dealer. I am very concerned about the proposed rules from the
    CFTC. The CFTC's recent rule
    proposal, which would limit customer trading leverage to 10 to 1, would be a crippling blow to the U.S. forex
    industry. This unsustainable rule would drive U.S. forex dealers, which brings tens of millions of dollars into the U.S.
    banking industry each day, offshore into the hands of foreign competitors. It would encourage fraud both at home
    and abroad as customers seeking to trade retail forex would have no other legitimate domestic alternative. As an
    investor, I would be forced to take my business outside of the United States.
    Steve Baker
    Carey OH, 43316
    [email protected]