I strongly oppose any rule that limits my (or others') ability to implement investment strategy, which at times includes the use of options and leveraged/inverse exchange-traded products. I believe such a rule would cause me personal financial harm. Although I have decades of experience with such products, I oppose any rule for which I must pass tests or meet any arbitrary net worth standard to use these products. It is my belief that a rule restricting such products would favor investors with more capital to the detriment of investors with less capital, which is fundamentally unfair (and offensive). Such a rule would undermine my confidence in markets and financial regulation. I believe the current notices regarding leveraged/inverse products that are issued by brokers are sufficient to warn investors of the risks of these instruments, and no further rules are necessary.
Tyler Davidson Comment On Regulatory Notice 22-08
I strongly oppose any rule that limits my (or others') ability to implement investment strategy, which at times includes the use of options and leveraged/inverse exchange-traded products. I believe such a rule would cause me personal financial harm. Although I have decades of experience with such products, I oppose any rule for which I must pass tests or meet any arbitrary net worth standard to use these products. It is my belief that a rule restricting such products would favor investors with more capital to the detriment of investors with less capital, which is fundamentally unfair (and offensive). Such a rule would undermine my confidence in markets and financial regulation. I believe the current notices regarding leveraged/inverse products that are issued by brokers are sufficient to warn investors of the risks of these instruments, and no further rules are necessary.