Comment for Proposed Rule 75 FR 3281
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From:
Barry J Ross
Organization(s):
Comment No:
8704
Date:
3/20/2010
Comment Text:
i0-001
COMMENT
CL-08704
From:
Sent:
To:
Subject:
Barry Ross
Saturday, March 20, 2010 3:52 PM
secretary
Regulation of Retail Forex
Dear Chairman Gensler
I am writing today regarding the proposed rules changes in Foreign Exchange Trading (R1N 3038-
AC61). I would like to express my specific opposition is to the proposed change in allowable
leverage.
As a budding new forex trader I see significant negative impact in the trading of Foreign
Exchange in the United States. While there is clearly need for adequate regulation to limit fraudulent
practice the leverage limits will cripple forex traders in the United States and force many into offshore
trading. The impact on the liquidity of currency markets will likely also be impacted. Please remove
the language limiting the leverage allowances from the proposed rules change. Thank you for
considering this change and I look forward to continuing opportunities for success in my forex trading
career.
Sincerely,
Barry J. Ross, MD
