MPs' committee supports FCA call for Online Safety Bill to cover internet ads

'The Wild West online'

Ayesha Venkataraman
clock • 3 min read

The Joint Committee on the draft Online Safety Bill has recommended major changes to its scope, including tackling harmful advertising such as scam adverts, the inclusion of which in the bill was also called for by the Financial Conduct Authority (FCA).

A report by the Joint Committee has set out a series of recommendations to bring more offences within the bill's ambit, and empower Ofcom to set minimum safety standards for regulated services alongside enforcement actions against those who fail to comply. "The Committee were unanimous in their conclusion that we need to call time on the Wild West online," said Damian Collins MP, chair of the Joint Committee on the draft Online Safety Bill. "What's illegal offline should be regulated online. For too long, big tech has gotten away with being the land of the lawless. A lack of regulation o...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Data-driven or anecdotal? Examining FCA Consumer Duty board reports

Data-driven or anecdotal? Examining FCA Consumer Duty board reports

'Data is not a by-product of systems; it is a core governance asset'

Chris Davies
clock 27 March 2026 • 6 min read
FCA 'consistently behind the curve' on British Steel – Complaints Commissioner

FCA 'consistently behind the curve' on British Steel – Complaints Commissioner

Regulator hits back at Complaints Commissioner’s final report

Jenna Brown
clock 26 March 2026 • 3 min read
Advisers warned against 'cost-saving' exercises as FCA proposes ditching annual suitability requirement

Advisers warned against 'cost-saving' exercises as FCA proposes ditching annual suitability requirement

Changes offer an opportunity for more ‘meaningful’ advice

Sophia Panayi
clock 26 March 2026 • 4 min read