In my opinion there should be a regulating authority that sees over ICO, hell any new coin in fact. There are way too many scams going around and imo it causing a bad name for crypto. Ive seen 2 coins (i invested in both, luckily didnt loose much) where the dev's have disappeared within 2-3 months.
But where this authority should be from? Its a problem of jurisdiction. No one has global jurisdiction.