Comment Text:
io-ooi
COMMENT
CL-08302
From:
Sent:
To:
Subject:
Jon Walden
Wednesday,
March 17, 2010 7:52 PM
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 ruleproposal, which would limit customer trading leverage to 10 to 1, would be a crippling blow to the U.S.
forex industry and would eliminate my ability to trade! 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.
Jon Walden
Elgin IL, 60120
[email protected]
