Comment Text:
i0-001
COMMENT
CL-08312
From:
Sent:
To:
Subject:
Clare Carpenter
Wednesday, March 17, 2010 8:16 PM
secretary
Regulation of Retail Forex
RE: RIN 3038-AC61
Dear Mr. Stawick,
I would urge the CFTC not to lower current currency leverage of 100:1 to 10:1.
Should the 10 to 1 leverage rule proposed by the CFTC be adopted:
[] 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 j obs 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.
The negative possibilites are too great to risk this additional regulation however well intended it may be.
Feel free to call me to discuss further. Thank you.
Regards,
Mr. Clare Carpenter
248 765-6091
