Comment Text:
i0-001
COMMENT
CL-08345
From:
Sent:
To:
Subject:
[email protected]
Wednesday, March 17, 2010 9:38 PM
secretary
Regulation of Retail Forex
RE: RIN 3038-AC61
Given the FACTS listed below, why would you want to make the proposed changes? It certainly doesn't help
America or the American economy, it doesn't protect the trader as we would be subject to more fraud, and we
certainly don't need to lose any more jobs here with an almost 10% unemployment rate!!!
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.
Sincerely, Ruth Cox Fairview, TN
