Comment Text:
i0-001
COMMENT
CL-08366
From:
Sent:
To:
Subject:
Fred Karlson
Wednesday, March 17, 2010 10:57 PM
secretary
Forex Changes
I am opposed to the proposed changes in forex dealing for the following
reasons:
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 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.
Respectfully,
Fred Karlson
