Comment Text:
i0-001
COMMENT
CL-08468
From:
Sent:
To:
Subject:
Shanyu LU
Thursday, March 18, 2010 10:18
AM
secretary
HOW WILL THESE CHANGES AFFECT FOREX TRADERS AND THE
AMERICAN
ECONOMY?
If the 10 to 1 leverage rule is 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.
