Argentina: Consultation closed on IOSCO Report on Retail Distribution and Digitalisation

On 17 March 2022, the Board of the International Organization of Securities Commissions (IOSCO) closed its consultation on the “Report on Retail Distribution and Digitalisation” analysing developments in online marketing and distribution of financial products to financial consumers in IOSCO member jurisdictions. The Report highlights that, while the internet potentially improves consumer access to financial products, it also creates new and potentially harmful marketing practices. On the basis of these findings, the Report develops a policy toolkit and an enforcement toolkit with several measures for the consideration of IOSCO members. The policy recommendations include implementing firm level rules, responsibility, and licensing for online marketing and distribution, as well as the use of technology-based detection and additional oversight powers to combat illegal practices.