Sharks are a prehistoric species that have been around for millions of years, they have changed very little over that time. They are a critical keystone species which we humans, in a matter of a few generations, have managed to deplete to a small fraction of what they were, some species wiped out to the brink of extinction. Finning is barbaric, but whether finning practices are eliminated or not, sharks need protection and reduced harvesting by all methods of fishing. Any legislation that will improve their chances I will support.
Actually I'm pretty skeptical when it comes to ocean protection, easy to blur stats, hard to enforce, and politicians have generally pandered to their fishing fleets. Only when it's absolutely critical do we ever take action.