Although bound by government legislation, the FCA said it had a clear interest in how the exemptions were set and welcomed views on how the rules currently worked.
5 Platform responsibility
For consumers who are buying without advice — which the regulator said was a “growing number” — the FCA wanted a market where people could benefit from buying directly but with safeguards in place.
The FCA said: “This may mean placing more obligations on those who distribute products to consumers through online platforms.
“If people are buying directly through online platforms, they need clear information to help them make a decision and understand what to do if something goes wrong.”
The regulator asked for input on what protections were necessary and whether there were products which brought greater risks of harm.
6 Stubborn scams
The FCA asked the industry how people could be better protected from scams as it continued to see a rising number of investment fraud cases.
It said it was engaging with other agencies to ensure more care was taken by internet platforms, including search engines and social media sites, before adverts for financial products were accepted.
More than 1m consumers have visited the regulator's ScamSmart site since its launch and it is set to run a consumer harm campaign.
It welcomed views on the most suitable and proportionate remedies to further tackle scams and other online investment harms.
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