The Financial Conduct Authority in the UK (FCA) is considering additional powers in respect of internet service providers (ISPs). In its first annual perimeter report, the FCA says it might push ISPs to take down misleading or unfair financial promotions, in order to improve consumer protection. The regulator also stated it might ban certain cryptoassets falling outside its regulatory perimeter. It’s no secret that fraudsters offering investments in forex, contracts for difference (CFDs), and binary options often promote themselves online and via social media channels, such as Facebook. They promise high returns and use images of luxurious items like expensive cars and yachts to lure the people to put money in the scam. “Digital channels enable firms to create, market and sell financial services products very quickly. This means that the speed at which harm can be caused by a misleading or unfair financial promotion has greatly increased. Internet or social media adverts reach millions of people in an instant, challenging our ability to detect and act against misleading adverts,” stated the UK financial watchdog in its report. That is why the FCA will seek greater regulatory control over ISPs and push them to remove fraudulent content & social media ads. The British regulator also said that it is developing and deploying automated tools for detecting online products or practices that pose potential risks to consumers.