Senator Orrin Hatch Comments on Proposed Forex Regulations

“Concerned” about “severe impact” of regulations

On March 9, 2010, Utah Senator Orrin G. Hatch submitted a comment letter to the CFTC regarding the proposed retail forex regulations.  Senator Hatch takes the stance that the CFTC should not reduce the levergage requirement from 100:1 to 10:1.

“I am told this provision may result in many retail Forex trading jobs moving offshore to jurisdictions where regulators do not limit retail Forex leverage, and 200:1 leverage is more common,” Hatch stated.  The comment goes on to say that “higher margin on leverages [sic] for Forex would make the U.S. retail Forex market uncompetitive” and that the “United States is at risk of losing jobs from this proposed regulation.”  Hatch also notes, like many previous commenters, that “the CFTC cannot adequately regulate retail Forex trading if it moves offshore.”

For more information, see Orrin Hatch Forex Comment.

There were no press releases on Senator Hatch’s website at the time of this post.

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