Yup exactly and entirely agree with that. I think it's great there is the downside protection but that probably should have been in place already (black swan insurance should be covered by the industry). The leverage thing is going to be big if it really does come into effect as written. On a side note, does anyone notice the negative coverage of retail traders on CNBC etc because of Robinhood? Kramer seems to think that because retail traders make money buying stocks in a bull market, then it's a bad thing. There are already enough barriers to entry, these kind of restrictions just make the table smaller. It is a lot easier to lose money in the markets than to make it but is that a reason to restrict access? Regulators should focus on the access being fair (retail traders having fair spreads etc etc) not deciding on who can access the markets by imposing capital restrictions.