Press releases

Lastest Press releases

Asset Publisher

The financial market authorities of Italy, Spain France and Austria list their key priorities for a macro prudential approach to asset management

The Commissione Nazionale per le Società e la Borsa (CONSOB - Italy), the Comisión Nacional del Mercado de Valores (CNMV - Spain), the Autorité des marchés financiers (AMF - France) and the Finanzmarktaufsicht (FMA - Austria) today publish their key priorities as part of the debate on the macro prudential approach to asset management and in view of the European Commission's forthcoming consultation on this topic.

In recent years, risks arising from Non-Bank Financial Intermediation (NBFI) have been the focus of global regulators' attention, especially as their relative share in the global financial system has increased. Concerns have also been raised about the potential negative effects on the real economy of shocks spread through or generated by Non-Bank Financial Intermediation.

These debates are important and legitimate.

The specific characteristics of asset managers need to be taken into account when developing the regulations necessary to address their risks. The ecosystem of asset management is different from that of banks and equally diverse, as are the vulnerabilities highlighted so far. Therefore, the nature of the risks that regulators aim to address must be precisely defined: regulators should focus as a priority on the characteristics of asset management that generate excessive price volatility and liquidity stress. Capital requirements and liquidity buffers are not the most appropriate solutions to mitigate these risks in terms of financial stability.

Based on these considerations and with regard to the asset management sector, the authorities of Italy, Spain, France and Austria have identified five priorities. The first three relate to short- and medium-term measures, while the others should be pursued in the long term:
- ensure widespread availability and increased use of Liquidity Management Tools (LMTs) in all types of Open-Ended Funds (OEFs): the recent revision of the Alternative Investment Fund Managers Directive (AIFMD) will significantly advance the adoption of LMTs, although Level 2 measures are still under development;
- banning the amortised cost accounting of Money Market Funds (MMFs): amortised cost accounting is inherently detrimental to financial stability, amounts to misrepresentation to investors, making them believe that they enjoy a stable Net Asset Value (NAV), and incentivises first movers;
- systematic stress tests should also be envisaged to better understand the vulnerabilities of each asset management group and its interconnections with other participants in the financial system;
- introduce a truly consolidated supervisory approach for large cross-border asset management groups: as their teams and funds are currently supervised by different national competition authorities in different countries, the creation of a supervisory college for these groups would bring significant benefits both in times of stress and in normal market conditions;
- create an integrated data hub, shared by market supervisors and central banks, which meets the reciprocal needs, both in terms of day-to-day supervision and stress-testing exercises.
Press release PDF version

15 April 2024

Global Money Week: 176 countries around the world, 300 financial education initiatives in Italy recognized by the Edufin Committee, with secondary schools secondary taking the lead (Press Release of Committee for the Planning and Coordination of Financial Education Activities - EDUFIN)

The 24th of March marked the end of the 12th edition of Global Money Week, the awareness campaign dedicated to young people, promoted by the OECD and coordinated in Italy by the Committee for the Planning and Coordination of Financial Education Activities (Edufin Committee).

Members of the Committee for the Planning and Coordination of Financial Education Activities are the Ministry of Economy and Finance, the Ministry of Education and Merit, the Ministry of Business and Made in Italy, the Ministry of Labor and Social Policies, the Bank of Italy, Consob, Covip, Ivass, OCF, and the National Council of Consumers and Users.

Between 18 and 24 March, in Italy, public and private institutions, associations, universities, schools and research organizations involved young people in nearly 300 financial education initiatives collected in the event's official calendar.

These initiatives discussed money, payment instruments, savings, financial planning, investments, insurance and, in a future perspective, retirement and sustainability; special consideration was paid to online payments, cybersecurity and fraud and scams made through the web, in line with the theme of this edition of the event "Protect your money, secure your future."

Global Money Week 2024 was also actively supported by the Ministry of Education and Merit, which invited Italy’s schools and Italian schools abroad to join the initiatives dedicated to them.

For the youngest children, educational workshops were held in the classroom, such as those dedicated to building stories or managing the budget of an imaginary friend, so as to bring girls and boys closer to the issues of financial planning. Educational workshops, quizzes, and lectures were held for secondary students, and webinars and seminars were held for college students and young adults; online materials such as video tutorials, video pills, and Podcasts were disseminated to all, which were always accessible. Some schools also came up with initiatives which were implemented independently within the Institutes.

Press release PDF version

Rome, 12 April 2024

Watch for Scams! Abusive financial services: Consob blacks out 7 abusive websites

Consob has ordered the black-out of 7 new websites that offer financial services illegally.

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree"; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.

Below are the websites Consob has ordered to be blacked out:

- "GMT" (websites www.gmtdirect.com, www.gmtplatform.com and www.gmtcapitals.com and related pages https://client.gmtdirect.com and https://client.gmtplatform.com);

- "Capitalpartners24" (website https://capitalpartners24.com);

- "FP Invest" (website www.fpinvest247.io);

- "Smart Limited Group" (website https://smart-limited-group.com and related page https://cfd.smart-limited-group.com);

- "Stockcptls" (website https://stockcptls.com).

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 1060.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that on the website www.consob.it there is a section on the homepage, "Watch for Scams!", providing useful information to warn investors against financially unauthorized initiatives.

Press Release PDF version

12 April 2024

Acf and Abf: the Financial Ombudsman at Consob and Bank of Italy - Instructions for use: how savers can resolve disputes without going to court - A practical guide at the conference next Thursday, 11 April, at the Salone del Risparmio

What can a saver do in the event of a dispute with the financial or banking intermediary he or she has approached? How can he or she try to recover his money? Does he or she have to take legal action? Is it really necessary to go to court? The answer is no. There are two alternatives, both of which are free, fast and efficient, that allow disputes between savers and intermediaries to be resolved without resorting to the court system.

They are the Securities and Financial Ombudsman (Arbitro per le Controversie Finanziarie - Acf) and the Banking and Financial Ombudsman (Arbitro Bancario Finanziario - Abf), two bodies operating respectively at Consob and the Bank of Italy, whose task is to ensure, outside the courtrooms, a quick and smooth resolution of disputes between customers and financial or banking intermediaries.

Taking stock of these two alternative tools for closing disputes will be a conference entitled: "Acf and Abf for the protection of banking and financial customers" (“Acf e Abf per la tutela dei clienti bancari e finanziari”) scheduled in Milan next Thursday, 11 April, as part of the Salone del Risparmio, where for the second year in a row the Acf will have its own stand.

On the third and final day of the Salone, Thursday, the one open to students, savers and the undifferentiated public, the two Ombudsman will introduce themselves to visitors explaining how they work, how can you access them and what benefits they offer savers.

Speakers include Gianpaolo Barbuzzi, President of the Securities and Financial Ombudsman, established at Consob; Magda Bianco, head of the Bank of Italy's Customer Protection and Financial Education Department; Raffaele Lener, Full Professor of Financial Market and Commercial Law and former member of Abf and Acf; and Anna Vizzari, economist, Team coordinator at Altroconsumo.

Antonio Criscione, journalist at Plus/IlSole24Ore, will moderate.

Scheduled time Thursday, 11 April, H. 9:15 a.m. - 10:15 a.m. at the Salone del Risparmio, Mi.Co. Sud, Milan, Sala Amber 6, Level +2.

For information and registration see: https://www.salonedelrisparmio.com/.

Press release PDF version

Rome, 9 April 2024

Watch for Scams! Abusive financial services: Consob blacks out 6 abusive websites

Consob has ordered the black-out of 6 new websites that offer financial services illegally.

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree"; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.

Below are the websites Consob has ordered to be blacked out:

- "Mainrow" (website https://momentumltd.io and related pages https://client.momentumltd.io and https://webtrader.momentumltd.io);

- "Sgbfinancesa.io" (website https://sgbfinancialsaltd.cm and related pages https://client.sgbfinancialsaltd.cm and https://webtrader.sgbfinancialsaltd.cm);

- "Fiducia Capital FX" (website www.fiduciacapitalfx.com and page https://client.fiduciacapitalfx.com);

- "Immediate Eurax 24" (websites www.immediateeurax.net and www.immediateeurax24.com);

- "AMACAP" (website https://amacap.eu and related page https://client.amacap.eu).

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 1053.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that on the website www.consob.it there is a section on the homepage, "Watch for Scams!", providing useful information to warn investors against financially unauthorized initiatives.

Press Release PDF version

28 March 2024

Watch for Scams! Abusive financial services: Consob blacks out 5 abusive websites

Consob has ordered the black-out of 5 new websites that offer financial services illegally.

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree"; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.

Below are the websites Consob has ordered to be blacked out:

- Imperialcap24 Limited and Top Markets Ltd (website https://imperialcap24.com and related page https://wt.imperialcap24.com);

- "AfexEU" (website www.afexeultd.com and related pages https://client.afexeultd.com and https://trade.afexeultd.com);

- "Bitblanco" (website www.bitblanco.io);

- "INVESTRIUM" (website https://investriumltd.com and pages https://accountusers.dashboard.clientzonearea.webtradersclientzone.com and https://clientzone.account.deposit.payment.webtraderdashboard.com);

- "FameFX24" (website https://famefx24.com and related pages https://crm.investmentcfd.com and https://trading.wrt33.com).

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 1047.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that on the website www.consob.it there is a section on the homepage, "Watch for Scams!", providing useful information to warn investors against financially unauthorized initiatives.

Press Release PDF version

22 March 2024

Watch for Scams! Abusive financial services: Consob blacks out 7 abusive websites

Consob has ordered the black-out of 7 new websites that offer financial services/financial products illegally: 6 illegal financial intermediation websites and 1 website through which an offer of financial products is carried out in the absence of a prospectus.

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree" Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), relating to the black-out of the sites of abusive financial intermediaries, as well as of the power introduced by the Law no. 8 of 28 February 2020, Article no. 4, paragraph 3-bis, with reference to the black-out of the website through which the illegal offer is carried out.

Below are the websites Consob has ordered to be blacked out:

- "Mib40fx" (website https://mib40fx.com and related pages https://crm.mib40fx.com and https://trading.wbtplt03.com);

- Ai2Trade Ltd (website https://ai2trade.co.com and related pages https://panel.ai2trade.co.com and https://trading.ai2trade.co.com);

- "FCapital24" (website https://fcapital24.eu);

- "FX-FLAT" (website https://fx-flat.com and related page https://panel.fx-flat.com)

- Rounda Partners Limited (website https://isotrader.cc);

- "Free Trade CFD" (website https://free-tradecfd.com and related page https://client.free-tradecfd.com).

- "Realcapitallc" (website https://realcapitallc.co)

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 1042.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that on the website www.consob.it there is a section on the homepage, "Watch for Scams!", providing useful information to warn investors against financially abusive initiatives.

Press Release PDF version

15 March 2024

More women and more sustainability in business - The point at Consob in the conference "Crystal ceilings and rubber walls - Women's Leadership and Esg Mission"

"Think about a new legislative intervention to encourage the presence of women in companies even where there are no regulatory prescriptions," such as in the realm of unlisted companies.

This is the hope expressed by Consob Commissioner Gabriella Alemanno, who spoke today at the opening of the conference "Crystal Ceilings and Rubber Walls. Women's Leadership and Esg Mission," held this morning at Consob in Rome ahead of Women's Day, March 8.

The event was attended not only by the Deputy Minister of Economy, Maurizio Leo, but also by several female CEOs as well as sustainability leaders in some of Italy's leading companies.

The discussion revealed a unanimous consensus on the need to strengthen the presence of women at every company levels and to increase efforts in the areas of environmental/social sustainability and corporate governance.

The Golfo-Mosca law on gender balance in the corporate bodies of listed companies has yielded good results, Alemanno noted. In 2011, when the law went into effect, the presence of women was at 7 percent. Today, according to the latest Consob data, it is 43 percent of boards of directors and 41 percent of control bodies of listed companies.

Legislative intervention, she continued, has served to shatter glass ceilings at the top level, but "rubber walls" still remain at the lower levels in the form of the many invisible barriers that limit the empowerment of women.

The greater involvement of women has brought benefits, according to Alemanno, both in terms of corporate performance and in terms of attention to environmental and social sustainability issues, which have increasing relevance in investors' choices. The experience could, therefore, be extended to the unlisted world as well. And this is why the use of legal regulations could become useful again.

The challenges of sustainability place us "in front of an epochal change that requires an unprecedented commitment of the various actors in the system," concluded Consob Commissioner Chiara Mosca. "Consob," she added, "is given a key role in fostering through the capital market the channelling of private investment to support the ecological transition in Italy.

Press Release PDF version

Rome, 4 March 2024

Watch for Scams! Abusive financial services: Consob blacks out 6 abusive websites

Consob has ordered the black-out of 6 new websites that offer financial services illegally abusively: 5 abusive financial intermediation sites and 1 site through which an offer of financial products is carried out in the absence of a prospectus.

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree"; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.

Below are the websites Consob has ordered to be blacked out:

- Ether Limited (website https://ethertrader.cc and related page https://client.ethertrades.cc);

- Aegion Group Ltd (website www.safecap.io and related page https://client.safecap.io);

- Investment Analysts (website https://investment-analysts.co and related page https://client.investment-analysts.co);

- Fidelitycfd (website www.fidelitycfd.com and related page https://wt.fidelitycfd.com);

- Mex-Fx (website https://mex-fx.com and related page https://client.mex-fx.com);

- Ultraford (website https://ultraford.cc).

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 1035.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that on the website www.consob.it there is a section on the homepage, "Watch for Scams!", providing useful information to warn investors against financially unauthorized initiatives.

Press Release PDF version

1 March 2024

Joint press release Consob - Bank of Italy

Memorandum of understanding for the strengthening of cooperation in the field of issuers

The Commissione Nazionale per le Società e la Borsa and the Bank of Italy have signed a Memorandum of Understanding to strengthen their cooperation with regard to issuers supervised by Consob that fall, at the same time, within the Bank of Italy's direct supervisory perimeter.

Also taking into account the macroeconomic environment and market developments, the Protocol provides for the two authorities to exchange a broad set of information regarding, in particular, prudential supervision, anti-money laundering supervision and crisis management, by the Bank of Italy, as well as that deriving from the supervisory activities that Consob carries out regarding ownership structure, governance, financial and non-financial information, and on the entities in charge of the statutory audit.

The agreement also provides for cooperation in the area of inspection and the exchange of communications and information when Consob initiates proceedings for the approval of prospectuses (or documents for exemption from the prospectus publication requirement) and documents relating to takeover and/or exchange offers involving entities supervised by the Bank of Italy.

Press Release PDF version

Rome, 27 February 2024

Bonds Prospectuses: reduced response times, lower costs, applications in English - These are the new initiatives adopted by Consob

Reduced response times, lower costs and the possibility to submit applications in English: these are the main initiatives adopted by Consob for bond prospectuses.

The measures are part of a broader effort to streamline and simplify regulatory obligations that Consob is pursuing to make the Italian capital markets more attractive to issuers, while maintaining safeguards to protect savers and investors. These initiatives come to meet market participants needs and lead to a reduction in the regulatory burden.

To ensure greater certainty as to the timing of the scrutiny process, in line with European best practices, the competent Consob offices will provide initial informal feedback on the main issues that may arise from an overall review of the draft prospectus within two working days from the submission of the application for approval of the prospectus. The request for additional information ("comment letter") will normally be finalised within six working days from the submission of the application for approval, reduced to five working days for offers limited to institutional investors(https://www.consob.it/documents/11977/4024906/Indicazioni_WEB_scrtuinio_prospetto_debito_21.02.24.pdf).

In terms of costs, since January 2024 the supervisory fees for both institutional and public (retail) offerings have been lowered. Fees for institutional offers are now predetermined and fixed in advance, while for retail offering the variable amount of the fee has been halved in comparison with 2023, and the maximum fee payable has also been reduced (https://www.consob.it/web/services-for-supervised-subjects/annual-fees).

The use of the English language, already accepted in Italy for prospectuses, is extended to the application, which can be submitted using standard forms in line with common practices throughout the EU. The resolution amending the Issuers’ Regulation has been published on 20 February 2024 following a market consultation closed on 29 January 2024(https://www.consob.it/web/area-pubblica/bollettino/documenti/bollettino2024/d23016.htm).

Market participants are reminded that the Guidelines for Simplifying Prospectuses recently issued by the COMI (Committee of Market Operators and Investors, established at Consob) provide useful indications on how to prepare prospectuses.

Further innovations aimed at streamlining the timing for the approval of prospectuses are in the pipeline. Consob is going to launch a public consultation on the proposal to attribute the final act of approval of prospectuses and supplements to the competent offices and no longer to the Consob Commission, thus further speeding up the approval process.

Press Release PDF version

Rome, 26^th February 2024

Watch for Scams! Abusive financial services: Consob blacks out 5 abusive websites

Consob has ordered the black-out of 5 new websites that offer financial services illegally.

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree"; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.

Below are the websites Consob has ordered to be blacked out:

- "Tcrinvest" (website https://tcrinvest.net and related pages https://account.tcrinvest.net and https://trading.tcrinvest.net);

- "Interactive" (website www.intr-active.com and related pages https://intr-active.solutions and https://clientportalpage.intr-active.com);

- "Capitalwealthmanagement.co" (website www.capitalwealthmanagement.co and related page https://clientzone.capitalwealthmanagement.co);

- "BGB Partners" (website https://bgbpartners.cm and related pages https://client.bgbpartners.cm and https://webtrader.bgbpartners.cm)

- "FDXCrypto" (website https://colmex247.io and related pages https://client.colmex247.io and https://webtrader.colmex247.io).

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 1029.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that on the website www.consob.it there is a section on the homepage, "Watch for Scams!", providing useful information to warn investors against financially unauthorized initiatives.

23 February 2024

Press Release PDF version

Abusive financial services: Consob blacks out 5 abusive websites

Consob has ordered the black-out of 5 new websites that offer financial services illegally.

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree"; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.

Below are the websites Consob has ordered to be blacked out:

- "Global Trade Group" (website https://global-trade-group.com and related page https://cfd.global-trade-group.com);

- "Tide Technologies Group" (website https://tidetechnologiesgroup.world);

- "TRETORO" (website https://tretoro.co);

- FinaltoLTD Global Limited and FinaltoLTD Markets (Pty) Ltd (website https://finaltoltd.com and related pages https://client.finaltoltd.com and https://trade.finaltoltd.com);

- "Premium Capitals" (website https://premiumcptls.co).

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 1024.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that on the website www.consob.it there is a section on the homepage, "Watch for Scams!", providing useful information to warn investors against financially unauthorized initiatives.

Rome, 16 February 2024

Edufin Committee: Global Money Week 2024 kicks off on 18 March

"Protect your money, secure your future" is the theme of the 12^th edition of Global Money Week, which this year aims to emphasize the importance of taking a responsible and informed approach to using online financial services and tools.

On the website of the Committee for the Planning and Coordination of Financial Education Activities (Edufin Committee), www.quellocheconta.gov.it , applications can be submitted until 28 February to organize events and initiatives throughout Italy.

The Committee manages the activity of recognizing proposals promoted by private or public entities worthy of inclusion in the program of Global Money Week, the annual event promoted by the OECD with the aim of raising awareness among young people about the importance of acquiring knowledge, skills and virtuous behavior aimed at making informed financial decisions.

Since its launch in 2012, the event has involved more than 60 million young people in 176 countries. The campaign is coordinated in Italy by the Edufin Committee, with the organizational contribution of the Bank of Italy and other institutions represented in the Committee.

The Edufin Committee invites associations, institutions, businesses, universities and research centers, schools, foundations, public administrations, and any other organization that wants to engage in the field of financial education, to participate in the event with awareness-raising initiatives aimed at young people. All initiatives that meet the requirements of the Guidelines available at www.quellocheconta.gov.it will be accepted; approved projects will be collected in an official GMW calendar and schools will be notified.

Press Release PDF version

Watch for Scams! Abusive financial services: Consob blacks out 6 abusive websites

Consob has ordered the black-out of 6 new websites that offer financial services/financial products illegally: 5 illegal financial intermediation websites and 1 website through which an offer of financial products is carried out in the absence of a prospectus.

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree" Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), relating to the black-out of the sites of abusive financial intermediaries, as well as of the power introduced by the Law no. 8 of 28 February 2020, Article no. 4, paragraph 3-bis, with reference to the black-out of the website through which the illegal offer is carried out.

Below are the websites Consob has ordered to be blacked out:

- "Marketsac" (website https://marketsac.ltd and related page https://platform.marketsac-tp.ltd);

- "FCapital24" (website https://fcapital24.de);

- "FX Future Trading" (website www.fxfuturetrading.com and related pages https://account.fxfuturetrading.com and https://webtrader.chartcandl.com);

- "UfinaCapital" (website https://ufinacapital.cc);

- "Mercantiles" (website www.mercantiles.org);

- "Optimal Yield Limited" (website www.optimalyieldltds.com).

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 1019.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that on the website www.consob.it there is a section on the homepage, "Watch for Scams!", providing useful information to warn investors against financially abusive initiatives.

Press Release PDF version

Rome, 8 February 2024

Piazza Affari, capitalization back to pre-Lehman Brothers levels in 2023. Positive balance between entries and exits on the main list (209 to 212). Up (+13) the number of equities traded on the EGM platform . Consob's latest Statistical Bulletin on Italian-registered companies on the stock exchange published

Stock market capitalization up 20.5 percent for Piazza Affari in 2023, compared to the previous year. The Milan stock list thereby returns to the levels of pre-2008 great financial crisis and the bankruptcy of Lehman Brothers.

This is one of the findings from the latest Consob's Statistical Bulletin published today, which offers a snapshot of Italian companies listed on the Milan Stock Exchange.

The total market value of shares in Piazza Affari rose to 574 billion Euros at the end of 2023 (from 476 at the end of 2022). As of 31 December 2023, the capitalization-to-GDP ratio (according to preliminary ISTAT data) increased to 28 percent from 24 percent a year earlier.

Including data from Euronext Growth Milan (EGM), the multilateral trading platform established as an unregulated market for small and medium-sized enterprises (SMEs), as well as the Vorvel multilateral trading facility, the total capitalization at the end of 2023 is 586 billion Euros or 28.6 percent in relation to GDP.

Year 2023 shows a setback in the trend of Italian companies leaving the stock exchange. Positive (+3) is the balance between entries and exits on the main list, Euronext Milan (EXM). Compared with 9 new entries, 6 delistings were recorded.

EGM continues to expand with 13 new entries in 2023, bringing the total to 198 companies.

Between EXM, EGM and Vorvel, the total number of traded companies rises to 428 at the end of 2023 from 412 at the end of 2022.

Substantially stable (730 billion Euros) is the equivalent value of trades in shares of Italian listed companies on domestic and European platforms.

The volume of trading in government bonds of the Italian Republic increased (+25%). The counter value of government bonds changed hands on Italian platforms rose to 4.5 trillion Euros in 2023 from 3.6 trillion Euros in 2022. Almost constant were trades in bonds of Italian issuers other than government bonds.

Press Release PDF version

Watch for Scams! Abusive financial services: Consob blacks out 5 abusive websites

Consob has ordered the black-out of 5 new websites that offer financial services illegally.

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree"; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.

Below are the websites Consob has ordered to be blacked out:

- "StormInvest" (website www.storminvest.org);

- "Nextgentrading" (website https://nextgentrading.io and related pages https://client.nextgentrading.io and https://webtrader.nextgentrading.io);

- "Finexleaders" (website www.finexleaders.eu);

- AI2Trade Ltd (website www.ai2trade.com and related pages https://trading.ai2trade.com and https://panel.ai2trade.com);

- Axia Group Ltd e "Axiacvs" (website www.axiacvs.co and related pages https://client.axiacvs.co and https://webtraderapp.net).

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 1013.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that on the website www.consob.it there is a section on the homepage, "Watch for Scams!", providing useful information to warn investors against financially unauthorized initiatives.

Press Release PDF version

Rome, 1st February 2024

Watch for Scams! Abusive financial services: Consob blacks out 4 abusive websites

Consob has ordered the black-out of 4 new websites that offer financial services illegally.

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree"; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.

Below are the websites Consob has ordered to be blacked out:

- "Eurotrade Forex" (website https://eurotradeforex.net and related page https://client.eurotradeforex.net);

- "Bithebanx.pro" (website www.bithebanx.pro and related pages https://webtrader.bithebanx.pro and https://mobtrader.bithebanx.pro);

- Billionaire Trade Ltd (website https://billioniare-trade.co.com and related pages https://panel.billionaire-trade.co.com and https://trading.billionaire-trade.co.com);

- "Alfacapitalmarketsltd" (website https://alfacapitalmarketsltd.net and related page https://account.alfacapitalmarketsltd.net).

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 1008.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that on the website www.consob.it there is a section on the homepage, "Watch for Scams!", providing useful information to warn investors against financially unauthorized initiatives.

Press Release PDF version

Watch for Scams! Abusive financial services: Consob blacks out 4 abusive websites

Consob has ordered the black-out of 4 new websites that offer financial services illegally.

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree"; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.

Below are the websites Consob has ordered to be blacked out:

- "Blackridge Capital Management Ltd" (sito https://blackridgecm.com e relativa pagina https://secure.blackridgecm.com);

- "Alphascrypto" (siti www.alphascrypto.co.uk e www.alphascrypto.website);

- "Fast-MNG" (sito www.fast-mng.eu).

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 1004.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that on the website www.consob.it there is a section on the homepage, "Watch for Scams!", providing useful information to warn investors against financially abusive initiatives.

Rome, 18 January 2024

Press Release PDF version

HISTORICAL COLLECTION OF PRESS RELEASES

immagine vedi anche

Press releases - CONSOB AND ITS ACTIVITIES

Navigation Menu

Communications

Press releases

Asset Publisher

HISTORICAL COLLECTION OF PRESS RELEASES

HISTORICAL COLLECTION OF PRESS RELEASES - list

Breadcrumb

Press releases - CONSOB AND ITS ACTIVITIES

Navigation Menu

Communications

Press releases

Asset Publisher

HISTORICAL COLLECTION OF PRESS RELEASES

HISTORICAL COLLECTION OF PRESS RELEASES - list