Comment Text:
i0-001
COMMENT
CL-08471
From:
Sent:
To:
Subject:
Terry Richards
Thursday, March 18, 2010
10:34 AM
secretary
Regulation of Retail Forex
As a potential investor in the foreign currency market who is considering trading currency with a U.S. dealer. I am very
concerned about the proposed rules from the CFTC. The CFTC's recent ruleproposal, which would limit customer trading
leverage to 10 to 1, would be a crippling blow to the U.S. forex industry. This unsustainable rule would drive U.S. forex
dealers, which brings tens of millions of dollars into the U.S. banking industry each day, offshore into the hands of foreign
competitors. It would encourage fraud both at home and abroad as customers seeking to trade retail forex would have no
other legitimate domestic alternative. As an investor, I would be forced to take my business outside of the United States.
Please reconsider this potential action now. We cannot afford to lose another industry to foreign competition.
Regards,
Terry Richards
Terry Richards
Willoughby OH, 44094
[email protected]
