Comment Text:
i0-001
COMMENT
CL-08253
From:
Sent:
To:
Subject:
Don Cornwell
Wednesday, March 17, 2010 6:10 PM
secretary
Regulation of Retail Forex
Identification number RIN 3038-AC61
I agree with the bullet points below concerning the proposed regulations of the Forex market in the
United States. I trade with a micro account and if my margin ratio goes to 10:1 it would force me to
close my account. I am getting emails all the time from other countries wanting me to switch my
account to an off sore account. I had rather trade in the US.
¯ Funded accounts currently in the U.S. system can be expected to go offshore.
¯ Forex fraud may worsen, not improve. Unregulated dealers from around the world will thrive, while
operating
without requirements for capital adequacy, risk management models, marketing ethics, dealing
practices or
even returning of customers funds.
¯ The United States may cost itself millions of dollars in trade revenue.
¯ Thousands of white collar jobs that require an advanced education and range from software developers
to
accountants to foreign exchange dealers may be eliminated, or move out of the United States.
Thanks,
Don Cornwell
