The European Securities and Markets Authority (ESMA) has written to several major social media and technology companies—including X, Meta, TikTok, Alphabet, Telegram, Snap, Amazon, Apple, Google, and Reddit—urging them to prevent the unauthorised promotion of financial services on their platforms. ESMA noted that these unauthorised advertisements pose a significant risk to retail investors and damage trust in the financial sector by enabling fraudulent activities. This action aligns with a recent initiative by the International Organization of Securities Commissions (IOSCO) to combat global financial misconduct online.