Social media companies and online platforms need to take greater responsibility for their role in connecting younger consumers to investment opportunities that may be risky, the chief executive of the Financial Conduct Authority said.

“In a low interest rate environment, we have seen a growing number of investors search for better returns online. Too many of these investment opportunities are too good to be true,” said Nikhil Rathi during a virtual keynote speech for UK FinTech Week on 20 April.