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Comment for Proposed Rule 75 FR 3281

  • From: Siv Vidhyanathan
    Organization(s):
    Portfolio Management Service

    Comment No: 8435
    Date: 3/18/2010

    Comment Text:

    i0-001
    COMMENT
    CL-08435
    From:
    Sent:
    To:
    Subject:
    Siv Vaidhyanathan
    Thursday, March 18, 2010 6:46 AM
    secretary
    Regulation of Retail Forex
    Identification number RIN 3038-AC61
    Sir,
    The latest proposal on the regulatory issue on Retail Forex needs a very careful and thoughtful
    study. Please understand the various problems that will peril the small traders throughout the
    world side by side affecting the already regulated retail forex trading in the United States. The
    existing 1:100 leverage is just perfect for people who don't want to go outside for work as well
    as for people who don't have employment and the 1:10 would only lead all the funds to go
    offshore putting the recovering US Economy in worst condition. This may also lead to the
    entry of wrong people in the Forex Industry who may run the show in an unprofessional way
    and may also lead to put in danger the clients funds.
    I pray let us not disturb the proven existing system that may cost millions of dollars in revenue
    for US and keep the existing system intact for the benefit of all.
    Siv
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