Jurisdiction(s):
United Kingdom

IOSCO and ESMA urge platforms to curb unauthorised financial promotions and fraudulent adverts: co-operation expectations within UK and EU online safety regimes

Published on: 11 July 2025

Published by a Law360 reporter

Legal News

Article summary

Online

Following IOSCO’s statement, on 28 May 2025 the European Securities and Markets Authority (ESMA) revealed it had contacted a number of social media and platform firms, urging proactive measures to curb the promotion of unauthorised financial services and drawing attention to IOSCO’s drive (see: ESMA urges social media platforms to prevent unauthorised financial promotions, LNB News 28/05/2025 39). “An ounce of prevention is worth a pound of cure”. Credited to Benjamin Franklin amid fire risks in Philadelphia in 1736, the maxim is equally apt for online harms in financial services, an area of mounting regulatory concern as digitalisation accelerates and retail involvement in capital markets expands. Thus far, supervisors have struggled to take effective action against those behind fraud, unauthorised activity and deceptive advertising enabled by social media. The cross‑border nature of many offenders’ operations, coupled with the practical challenge of intervening before investors encounter such material, hampers enforcement. Consequently, authorities are increasingly enlisting platform operators—namely internet search engines, social networks and app providers—to assist in spotting, preventing and reducing these problems at an early stage. By prioritising early detection and cooperation, regulators hope to limit investor exposure to harmful material and address misconduct before it takes root meaningfully...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...