Depending on how the players perceive themselves to be winners or losers they welcome or hate it. I think the consumer is at greater risk now. We are all doing national economic service again. This is the fastest way to get more people into the industry. Caveat Emptor.
For a market of well informed consumers, the small financial firms will suffer. But in a market of ignoramuses and vulnerable to the animal spirits, many consumers are like idiots who cannot tell the difference between a good girl for marrying and a prostitute.
The government wants to grow this sector in a hurry. These days nothing happen at the proper pace. Everything is in a hurry. People get "killed" all the time now.
This way, people get hurt first than they act. It is not preventive, and it is up to consumers to be clever to protect themselves. There are always enough suckers out there who will fall prey to all these. Unscrupulous people will always find loop holes with such regulatory approaches. This government always help the big and rich gets bigger and richer. Do they know that they are copying the discredited USA?