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]
