I strongly disagree with making it harder to trade complex products, specifically leveraged and inverse funds. If I had to meet similar qualifications and go through much the same processes required for margin and options, then I would be tempted to simply go ahead and sign up for those as well or instead, which would expose me to dramatically higher risks than any ETF. It's quite likely many others would do the same. Meanwhile there will still be stocks where equally devastating losses could and sometimes do occur, so it isn't actually going to protect anyone.
Valdon Bill Comment On Regulatory Notice 22-08
I strongly disagree with making it harder to trade complex products, specifically leveraged and inverse funds. If I had to meet similar qualifications and go through much the same processes required for margin and options, then I would be tempted to simply go ahead and sign up for those as well or instead, which would expose me to dramatically higher risks than any ETF. It's quite likely many others would do the same. Meanwhile there will still be stocks where equally devastating losses could and sometimes do occur, so it isn't actually going to protect anyone.