While not currently restricted or banned, the governments of Canada, The United States, and the European Union have set up organizations to further study the effects of nanoparticles in cosmetic products.
The European Commission and the REACH act do require nanoparticle warning labels on products.
Furthermore, the FDA has offered guidance on using nanoparticles, warning “nanomaterials can have chemical, physical, and biological properties that differ from those of larger scale particles with the same chemical composition, and the use of nanomaterials in cosmetic products may raise questions about the safety of the product for its intended use.” [1]