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GDF Response to IOSCO Retail Investor Online Safety Consultation Package

  1. Finfluencers
  2. Copy Trading
  3. Digital Engagement Practices

Overall, GDF is supportive of the aim of the proposals within the three consultations on Finfluencers, Copy-Trading and Digital Engagement Practices (DEPs). GDF developed this response on behalf of our board and board advisors as part of our ongoing commitment to supporting the work of IOSCO, as well as the GDF mission to support the development of best practices and governance standards across the digital finance industry. The Board’s 4 key points of feedback were:

  1. We strongly support technology neutral and future-proof guidance from IOSCO vs special regimes;
  2. We support IOSCO in leveraging existing principles in a proportionate approach to new market phenomenon;
  3. We would encourage proportionality in the approaches taken to meet regulatory objectives;
  4. As the market is still evolving, we would caution IOSCO against defining nuanced areas too prescriptively; and;
  5. Regarding finfluencers specifically, we believe this is an area that goes beyond financial services.
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