On 21 May 2025, the International Organization of Securities Commissions (IOSCO) issued a statement on combatting online harm and the role of platform providers.
Among other things IOSCO identifies in the statement certain measures currently used in some jurisdictions that can help disrupt online harm involving financial misconduct and encourages platform providers to consider adopting these measures, as consistent with local law:
- Due diligence on unauthorised offerings – due diligence to ensure that entities seeking to advertise paid content on their platforms are legally authorised to operate in the targeted jurisdictions and are not the subject of investor warnings by regulators.
- User compliance – enforcing applicable terms of services by monitoring and removing investment scam content or advertisements that violate platform policies.
- Internal processes – developing and updating appropriate internal rules, policies, processes and tools for detecting scams.
- Legal requirements – ensuring knowledge of and compliance with all applicable local laws and regulations in the jurisdictions where the platform provider company operates.
- Direct engagement with regulators – establishing active communication channels with financial regulators and governmental authorities.