EU's financial watchdog is focusing on deceptive online financial marketing

The European Union's securities watchdog said on Friday that regulators across the EU need stronger powers to combat deceptive online financial marketing.

The European Commission, the EU's executive arm, is expected to unveil a retail investor strategy this year in order to keep up with rapid technological advancements that now allow people to buy stocks or bitcoin with a few swipes on their smartphone.

More retail investor participation is desired by the bloc in order to assist to establish a more robust capital market that relies less on bank loans to finance the economy.