Comment Text:
i0-001
COMMENT
CL-08512
From:
Sent:
To:
Subject:
David Krotz
Thursday, March 18, 2010 4:02 PM
secretary
Regulation of Retail Forex
Most of your proposed regulations for the retail forex market are well advised. But the proposal for limiting leverage is not.
It will force companies and traders to offshore institutions, hurting the U.S. economy and jobs. Quite frankly amount of
leverage is none of the government business in this context. Frankly it is nothing like the situation that exists with futures.
With retail forex, we take the risk of losing our trading account but no more.
NFA has already set reasonable margins deemed by that association of businesses to be reasonable and they are. The
congressional regulations buried in that farm bill were never intended to regulate margin amounts and don't speak to the
issue. Why would you overstep your bounds to limit another form of our liberty?
Fearing you are going to make this mistake in regulations, I'm moving my trading account to England. I'll bring it back if
you back off on this provision.
David Krotz
Cedar Rapids IA, 52404
[email protected]
