BIG BROTHER WANTS TO REDUCE FOREX LEVERAGE
Retail Forex
FINRA Requests Comment on Proposed Rule to
Establish a Leverage Limitation for Retail Forex
Comment Period Expires: February 20, 2009
Executive Summary
FINRA is requesting comment on a proposed rule prohibiting any member firm from permitting a customer to: (1) initiate any forex position with a leverage ratio of greater than 1.5 to 1; and (2) withdraw money from an open forex position that would cause the leverage ratio for such position to be greater than 1.5 to 1.
The text of proposed FINRA Rule 2380 (Leverage Limitation for Retail Forex) is set forth in Attachment A.
Questions concerning this Notice should be directed to:
Gary Goldsholle, Vice President and Associate General Counsel,
Office of General Counsel (OGC), at (202) 728-8104; or
Matthew E. Vitek, Counsel, OGC, at (202) 728-8156.
Action Requested
FINRA encourages all interested parties to comment on the proposal.
Comments must be received by February 20, 2009.
Email comments to pubcom@finra.org
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Full text attached.
EVERYONE MUST SEND AN EMAIL AND TELL BIG BROTHER TO BUTT OUT!!
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