Comment Text:
i0-001
COMMENT
CL-08465
From:
Sent:
To:
Subject:
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Thursday, March 18, 2010 10:16 AM
secretary
Regulation of Retail Forex
Dear sir
My identification number is RIN 3038-AC61,Recently, I think your decision of'to collect security deposits in a minimum
amount in order to prudentially limit the leverage available to their retail customers on such transactions at 10 to 1" can cause
huge damage to traders.it deprives
the trading right of the medium and small investers, it deviates from Americanism of liberaty and equality, and it will lead to
the results as follow:
¯ 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.
