As cavalier as it may sound, no. Any kind of SEC-like governing body set up to ostensibly protect investors from scammy ICOs would throw a wrench into what digital securities can accomplish in terms of leveling the investment playing field. I have faith that investors can learn not to throw their money at unsavory ICOs, and that blockchain tech (specifically smart contracts) can evolve to help safeguard the investment process.
I agree - with one caveat. Investors will learn the hard way to do their research but it's only possible to do that research if what the company themselves puts out is truthful. I think access to ICO's and STO's etc should be wide open, but with hefty penalties for INDIVIDUALS (not just the companies they work for) that put out fraudulent information.