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Consob has ordered the black-out of 6 websites that offer financial services illegally (Press Release of November 11^th, 2019)

The Commission availed itself of the powers resulting from the ‘Decreto Crescita' (‘Growth Decree', Law no. 58 of June 28, 2019, article 36, paragraph 2-terdecies), on the basis of which Consob can order internet access providers to block access from Italy to websites offering financial services without the proper authorization.

The companies and websites are listed below:
- Lion Finance Ltd (https://cfd2fxpro.com);
- Globalix Ltd (www.globalix.co);
- UAB Elnira (https://alltrademarkets.com);
- Grandtrade.exchange (https://grandtrade.exchange);
- BTB Corporate LT (https://bcapitalprofit.com);
- Selinusinvestment.com (www.selinusinvestment.com).
The total amount of websites which have been blocked by Consob since last July has so risen to 77 units, since the acquisition by the Authority of the powers to order the blackout of sites.

The measures through which the aforementioned companies have been ordered to terminate the abusive activity are listed on the Consob website www.consob.it.

The activities for the blocking of the websites by the internet connectivity providers, operating on the Italian market, are underway. For technical reasons it can take several days for the black-out to come into effect.

Consob warns all the investors about the relevance of making their individual investment choices in a cautious and well informed way, adopting common sense precautions, such as verifying in advance that the operators identified for investment have the required authorizations.

To this end, Consob reminds to all investors to look at the section "Be aware of fraud!", on the homepage of the www.consob.it website.

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Memorandum of Understanding (MoU) between Consob and the Bank of Italy on investment services and activities and collective asset management (Consob and Bank of Italy joint Press Release of November 6^th, 2019)

The National Commission for Companies and the Stock Exchange (Consob) and the Bank of Italy have signed a new Memorandum of Understanding (MoU) on investment services and activities and collective asset management, intended to replace the previous MoU of 31 October 2007.

The update is aimed at adapting the framework of cooperation between the two Authorities to the regulatory changes that have taken place in recent years. It also intends to increase the overall degree of effectiveness and efficiency of the coordination of the respective supervision activities.

In summary, the new Protocol:
- redefines the scope of the collaboration between Consob and the Bank of Italy in the framework of the ECB's competences in the context of the Single Supervisory Mechanism;
- governs the procedures for exercising the regulatory powers of the two Authorities, in consistence with the changes in the regulatory framework introduced by Legislative Decree no. 129 of 2017, implementing MiFID II;
- defines the exchange of information acquired in the context of the controls of respective competence and the methods of cooperation on inspection;
- contains provisions aimed at ensuring coordination in the event of irregularities being ascertained and in relation to the crisis management of qualified parties;
- dictates the provisions for the coordination of the procedures for the issuing of the authorization measures for which the Consolidated Law on Finance (Testo unico della finanza - T.U.F.) provides for the agreement or the release of opinions between the two Authorities.
The document is available on both the websites www.consob.it and www.bancaditalia.it.

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Consob has ordered the black-out of 6 websites that offer financial services illegally (Press Release of November 4^th, 2019)

The Commission availed itself of the powers resulting from the ‘Decreto Crescita' (‘Growth Decree', Law no. 58 of June 28, 2019, article 36, paragraph 2-terdecies), on the basis of which Consob can order internet access providers to block access from Italy to websites offering financial services without the proper authorization.

The companies and websites are listed below:
- TomCom Limited (https://royalfxpro.eu);
- Bonatech Ltd e Mitchell Group EOOD (https://ccxcrypto.com);
- Next Trade Ltd e TLC Consulting Ltd (https://aspenholding.co e https://aspen-holding.com);
- "Trader Platinum" (www.traderplatinum.com);
- London Capital Trade Ltd (www.londoncapitaltrade.net).
The total amount of websites which have been blocked by Consob since last July has so risen to 71 units, since the acquisition by the Authority of the powers to order the blackout of sites.

The measures through which the aforementioned companies have been ordered to terminate the abusive activity are listed on the Consob website www.consob.it.

The activities for the blocking of the websites by the internet connectivity providers, operating on the Italian market, are underway. For technical reasons it can take several days for the black-out to come into effect.

Consob warns all the investors about the relevance of making their individual investment choices in a cautious and well informed way, adopting common sense precautions, such as verifying in advance that the operators identified for investment have the required authorizations.

To this end, Consob reminds to all investors to look at the section "Be aware of fraud!", on the homepage of the www.consob.it website.

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Note on the Bio-on case (Press Release of October 25^th, 2019)

About the Bio-on case, Consob is cooperating actively with the Public Prosecutor's Office of the city of Bologna. The cooperation has taken place since the beginning of the investigations and it was also started due to the impulse of Consob.

In this event, Consob is fully exercising its supervisory powers.

Bio-on is a company listed on the AIM, a multilateral trading platform, established as an unregulated market. AIM as such is not subject to the supervision of Consob, except for the events which are connected to market abuse. Accordingly, Consob had already started, since last summer, all the necessary checks. The investigations are still in progress.

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Be aware of fraud! Consob orders to internet providers to block the access to 7 unauthorized websites offering financial services (Press Release 24 October 2019)

The Commission availed itself of the powers resulting from the ‘Decreto Crescita' (‘Growth Decree', Law no. 58 of June 28, 2019, article 36, paragraph 2-terdecies), on the basis of which Consob can order internet access providers to block access from Italy to websites offering financial services without the proper authorization.

The companies and websites are listed below:

- "Pro Star" (www.traderia.com);

- Capital Com Investment Ltd (https://capital4bank.com);

- Capzone Invest Ltd (www.hqbroker.com);

- Game Capital Ads Limited (https://360smartfx.com);

- Pbox Ltd (www.pbntrade.com);

- Instafx24 Ltd (www.instafx24.com);

- Silver Wolf Limited (www.bronzemarkets.com).

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

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Be aware of fraud! Consob orders to internet providers to block the access to 5 unauthorized websites offering financial services (Press Release 18 October 2019)

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

The Commission availed itself of the powers resulting from the ‘Decreto Crescita' (‘Growth Decree', Law no. 58 of June 28, 2019, article 36, paragraph 2-terdecies), on the basis of which Consob can order internet access providers to block access from Italy to websites offering financial services without the proper authorization.

The companies and websites are listed below:
- Red Bird Ltd (www.cfdtrend.com);
- Mfi broker Ltd ( www.mfibroker.com);
- Software and Media Ltd (https://boxinvesting.com);
- Salvalax Ltd (www.fxsuit.com);
- "FxRoyal24" (https://fxroyal24.co.uk).
- The measures with which the aforementioned companies were ordered to terminate the abusive activity can be viewed on the website www.consob.it .
The black-out of these websites by internet access providers operating on the Italian market is ongoing.

For technical reasons, it can take several days for the black-out to come into effect.

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Signed in Rome a new Memorandum of Understandings between Guardia di Finanza and Consob (Joint Press Release of October 15^th, 2019)

Today, in Rome, at the "Piave" barracks, headquarters of the General Command of the Guardia di Finanza (Finance Police) the President of CONSOB, Professor Paolo Savona, and the Commander-in-chief of the Guardia di Finanza, General of Army Corps Giuseppe Zafarana, have signed a new Memorandum of Understanding (MoU), aimed at strengthening and extending the range of cooperation between the two institutions.

The agreement - which updates and replaces the one already signed in 2013 - intends to further strengthen the already existing cooperation relationships, with the aim of making supervision and assessment more effective, also with reference to market abuse and to the spread of abusive and money laundering occurrences.

All this turns substantially into an increasingly greater capacity to face the pitfalls deriving from emerging threats, in relation to which strategies of both contrast and prevention of violations in the financial branch can be jointly developed, with particular attention to the impact of the innovation technologies on both the financial system and its digitalisation.

The agreement also provides for the planning of periodic educational projects reserved to the staff of both institutions as well as to special research projects of training partnerships, aimed at the study of economic and financial events also with regard to the risks connected with the spread of cryptocurrencies.

A special Committee for the coordination of all these activities will be established. Its members will consequently be appointed by Consob and the Guardia di Finanza.

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Be aware of fraud! Consob orders to internet providers to block the access to 4 unauthorized websites offering financial services (Press Release 11 October 2019)

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

The Commission availed itself of the new powers resulting from the ‘Decreto Crescita' (‘Growth Decree', Law no. 58 of June 28, 2019, article 36, paragraph 2-terdecies), on the basis of which Consob can order internet access providers to block access from Italy to websites offering financial services without the proper authorization.

The companies and websites are listed below:
- Signal Invention s.r.o. - "Financial-Signal" (www.financial-signal.com);
- Gam Group Ltd - "MarketsFX" (https://marketsfx.com);
- TradersHome Ltd (https://tradershome.com);
- StsCrypto (https://stscrypto.com).
The measures with which the aforementioned companies were ordered to terminate the abusive activity can be viewed on the website www.consob.it .

The black-out of these websites by internet access providers operating on the Italian market is ongoing.

For technical reasons, it can take several days for the black-out to come into effect.

Press Release .pdf

Be aware of fraud! Consob orders to internet providers to block the access to 4 unauthorized websites offering financial services (Press Release of 4 october 2019)

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

The Commission availed itself of the new powers resulting from the ‘Decreto Crescita' (‘Growth Decree', Law no. 58 of June 28, 2019, article 36, paragraph 2-terdecies), on the basis of which Consob can order internet access providers to block access from Italy to websites offering financial services without the proper authorization.

The companies and websites are listed below:

- Pro Star (www.goldencfd.com);

- Bauman Ltd e Pacific Consulting Co Ltd (www.avait.investments);

- Silver Wolf Limited (www.profxpremium.com);

- Daisy Precious Ltd (www.fxworld24.com).

The measures can be viewed on the website www.consob.it .

The black-out of these websites by internet access providers operating on the Italian market is ongoing.

For technical reasons, it can take several days for the black-out to come into effect.

Press Release .pdf

Consob puts once more Financial Education at the center. World Investor Week starting again opening the Month of Financial Education (Press Release of October 1^st, 2019)

Consob called today on the auditing and internal audit bodies of listed companies, banks and insurance companies to bring to the attention of all operators in the sector the relevance of quality financial information as a prerequisite for confidence of both investors and savers.

World Investor Week, the financial education campaign promoted by Consob is back again this year, at its third edition.

Lectures, conferences, theatrical performances: a dense calendar of events, which until October 6 will follow each other at a fast pace throughout Italy to reach every shape and age of audience, youngest, adults, the elderly, corporations, women.

The goal is to spread as much as possible the basic financial knowledge of the Italian savers and to put at their disposal the minimum required tools both to protect themselves against scams and also to assist them in the improvement of their money management planning, in the perspective of the future needs of their lives: buying a home, getting a university degree, managing retirement, or raising capital for small and medium-sized businesses.

The initiative, coordinated in Italy by Consob, is part of an international project (Wiw, World Investor Week), launched three years ago by Iosco (International Organization of Securities Commissions), the organization bringing together the regulatory and supervisory authorities on the financial stock markets of over 100 countries, 89 of which have joined Wiw.

In the meantime, World Investor Week is an integral part of the Month of Financial Education, the project launched nationally in October, two years ago, by the Committee for Financial Education.

Five hundred events throughout Italy, involving all the regions, 82 provinces, 178 municipalities: this is the calendar of the Month of Financial Education (link), which is growing strongly (+ ...%) with respect to last year. 12,000 followers on the Facebook webpage of the Financial Education Committee.

"We want to work to increase the sensitivity and awareness towards financial, insurance and social security issues ", commented Professor Annamaria Lusardi, Director of the Edufin Committee. "The objective - observed Giuseppe D'Agostino, member of the Consob Committee - is to ensure all the cultural and operational tools to acquire the ability to act economically and consciously for the improvement of well-being".

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Be aware of fraud! Consob orders to internet providers to block the access to 5 unauthorized websites offering financial services (Press Release of September 27^th, 2019)

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

The Commission availed itself of the new powers resulting from the ‘Decreto Crescita' (‘Growth Decree', Law no. 58 of June 28, 2019, article 36, paragraph 2-terdecies), on the basis of which Consob can order internet access providers to block access from Italy to websites offering financial services without the proper authorization.

The companies and websites are listed below:
- 4xRoyal Ltd (https://4xroyal.com);
- Game Capital Ads Ltd (https://it.247worldbtcfx.com);
- Kronosinvest (https://www.kronosinvest.co);
- Sky Hub Limited (https://4xincome.com);
- Zuitex (https://www.zuitex.com).
The measures can be viewed on the website www.consob.it.

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

Press Release PDF

Audit and internal control bodies in listed companies: from Consob a reminder about the quality of financial information as a prerequisite for market confidence (Press Release of September 27^th, 2019)

Consob called today on the auditing and internal audit bodies of listed companies, banks and insurance companies to bring to the attention of all operators in the sector the relevance of quality financial information as a prerequisite for confidence of both investors and savers.

The opportunity was given by the conference on "Quality of the audit: which role for the Audit Committee?", held this morning at Consob in Rome. The introductory speech was given by Paolo Ciocca, Commissioner of Consob. Then followed the interventions - among the others - of the representatives of D.G. FISMA of the European Commission and of PCAOAB, the U.S. Authority for the supervision of auditors, with which Consob has collaborating ties.

"The target of today's meeting is to raise the quality of financial information, a pillar of trust for all those who operate on the market, both investors and savers," Ciocca remarked at the end of the meeting. "The endless dialogue between Audit Committees and auditors – the Commissioner added - is a prerequisite for a more effective action of the supervisory authorities, all of which will benefit from the converging behaviours of the different subjects, each in its own role, for the common goal of public interest".

Within the conference were presented the results of a survey launched last winter by the CEAOB (Committee of European Auditing Oversight Bodies), the European body coordinating the supervisory authorities on audit activities, for the purpose of facilitating the national authorities in their monitoring of the activities of the internal control bodies.

Consob also provided a framework of audit quality indicators that, on the basis of international experience, can be useful for improving the culture of audit, through the comparison between Audit Committees and auditors.

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CONSOB and IVASS initiate consultation with the market on the transposition of the EU Directive on Insurance Distribution (Press Release of September 23^th, 2019)

CONSOB and IVASS (Italian Insurance Supervision Authority) today initiate consultation on the transposition of the European Insurance Distribution Directive (IDD, 2016/97).

The aim is to gather the opinions of insurance and financial market operators on the rules that each of the two authorities is required to adopt on the basis of the allocation of powers laid down by the regulatory framework.

In particular, as regards the CONSOB, the attention of the financial and insurance community is directed towards the proposed amendments to the Intermediaries Regulation concerning the rules of conduct and disclosure obligations with which these same intermediaries (including banks, investment firms, Poste Italiane) must comply in the distribution of insurance investment products. In more detail, the proposals consist of a total rewriting of the ninth book of the Intermediaries Regulation, in order to complete, for the aspects under CONSOB's responsibility, the rules of transposition of the IDD.

Instead, as regards IVASS, the attention of insurance and financial companies and intermediaries is directed towards the proposals for amendment of the Regulations on corporate governance, distribution and disclosure of insurance products (nos. 38/2018, 40/2018 and 41/2018) and the adoption of a new Regulation on the governance and control of insurance products (POG, Product Oversight Governance).

The consultation will close on 31 October next.

Contributions must be sent to CONSOB via SIPE (Integrated System for the Outside) or by post (CONSOB, Via G.B.Martini, 3 - 00198 Rome) concerning the amendments to the Intermediaries Regulation and to IVASS for the amendments to Regulations nos. 23 and 24 of 2008 and nos. 38, 40 and 41 of 2018 (ibip@ivass.it) and for the adoption of the new POG Regulation (pog@ivass.it).

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500 events all over italy for the second edition of the financial education month (october 2019) (Press Release of Committee for the planning and coordination of financial education activities - Edufin Committee - of September 23th, 2019)

From October 1^st to 31^st, around 500 meetings will be held in all the Italian regions on the occasion of the Financial Education Month. The official calendar of the event was presented today at the Piccolo Teatro in Milan, where this evening will be staged a lesson-show reserved to high school students.

The 50% increase in the participation and the variety of proposals presented for this second edition of the Month both confirm the success of the initiative.

The Financial Education Month, promoted by the Committee for the planning and coordination of financial education activities (Edufin Committee) directed by Prof. Annamaria Lusardi, includes seminars, lessons, games, workshops and free shows. The goal is to offer opportunities to learn, discuss and understand how to manage and program personal and family financial resources, exploring issues like savings, investment, insurance and social security.

The Month will open with the "World Investor Week", with the debut of the first National Day on Insurance Education (October 9^th) and will close with the World Savings Day (October 31^st).

A novelty is given by the organization of various events concerning social security issues, mainly promoted by the various endowments ("Casse") of professional orders and pensions funds.

"A lot of information is needed about the social security issues - explains the director -. Important decisions have to be taken by the young people who want to have a peaceful future guaranteed at the end of their professional life. The Committee, for the 2019 edition, has decided to focus on young people issues, because they are the investment for our future, even if the Month is aimed at everyone: from children to women, from families to small entrepreneurs, even to the third age. This year we will start from Milan, the city of finance in Italy, and we have therefore chosen an historic and extraordinary theatre like the Piccolo Teatro. We are now testing together how we can talk about finance in a simple and even fun way with a show both aiming at students and meetings the languages of theater and cinema".

The 2019 calendar, which can be consulted at http://www.quellocheconta.gov.it/calendario2019 is the starting point for institutions, foundations, consumer associations, anti-usury and non-profit organizations, schools, universities, companies, orders and associations, professionals, members of the banking, insurance and social security world.

#Ottobreedufin2019 is even more social, because it will be possible to be informed about all the public events of the calendar of Financial Education 2019 also through the Facebook page @ITAedufin which, a week after its debut, has already exceeded 6,000 likes. It is one additional tool for meeting and talking with citizens, added to the portal www.quellocheconta.gov.it , to the YouTube channel and to the Twitter accounts @ITAedufin and Instagram @itaedufin. Everyone is invited to scroll through the calendar to choose the most liked event and participate.

Milan, September 23, 2019

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Be aware of fraud! Consob orders to internet providers to block the access to 3 unauthorized websites offering financial services (Press Release of September 20^th, 2019)

Consob has ordered to internet providers to block the access to 3 internet websites offering financial services without the required authorizations.

Consob made use of the new powers recently attributed to the Authority by the "growth decree" (law no. 58 of 28 June 2019, article 36, paragraph 2-terdecies), by which Consob can now order to the providers of internet connectivity services to inhibit access from Italy to internet websites offering financial services without proper authorization.

Below is the list of companies and sites:
- Globalix Ltd (www.globalix.com);
- Lion Finance Ltd (cfd2fx.com);
- Next Trade Ltd (www.olympusmarkets.com).
The aforementioned measures have been published on the www.consob.it website.

The activities to implement the blocking of the unauthorized websites, carried on by the internet connectivity providers operating on the Italian market, are underway. Due to technical reasons, they will be effective in a few days.

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Be aware of fraud! Consob orders the blocking out of the access to 22 unauthorized websites offering financial services (Press Release of September 19^th, 2019)

Consob has ordered to internet providers to block the access to 22 internet websites offering financial services without the required authorizations.

Consob made use of the new powers recently attributed to the Authority by the "growth decree" (law no. 58 of 28 June 2019, article 36, paragraph 2-terdecies), by which Consob can now order to the providers of internet connectivity services to block the access from Italy to internet websites offering financial services without authorizations.

This is the list of the companies and websites that cannot be reached anymore through the internet:
- WebNet Ltd e 4COM Network Srl (www.2dots.com);
- One Thousand One Ltd (dax1001.com);
- Herdos (https://herdos.com);
- Lancelot Equity Ltd (https://gocapitalfx.com e https://gocapital123.com);
- TQR Trade (https://it.tqrtrade.com);
- Sucaba Enterprise Ltd (www.ptbanc.com);
- CMP24 Ltd (www.cmp24.com);
- Capital Tech Limited (www.pbncapital.com);
- PayPeq Holdings OÜ (www.investus.fm);
- Madar Partners Ltd (www.axeinvest.com);
- Swissinv24 Ltd (https://swissinv24.com);
- Codexfx Ltd (www.codexfx.com);
- A Corp Ltd (www.londonfuturemarket.com);
- Apsilon Ltd (grandfxpro.com);
- Dubai FXM Ltd (www.dubaifxm.com e www.dubaifxm24.com);
- Light Media Ltd (https://it.wincapitalpro.com);
- Global Es Ltd e Sonartech OÜ (www.capitalfmi.com);
- Brokerz Ltd e All Media Eood (www.brokerz.com);
- London Capital Ltd (www.londoncapitaltrade.com);
- Pmt247 Ltd (www.pmt247.com).
The aforementioned measures have been published on the www.consob.it website.

The activities to implement the blocking of the aforementioned unauthorized websites, carried on by the internet connectivity providers operating on the Italian market, are in progress and they should be effective soon.

Press release PDF

Tiziana Togna appointed as new Deputy General Manager of Consob - Maria Letizia Ermetes appointed as Head of Legal Advice (Press Release of September 13^th, 2019)

Tiziana Togna, currently Head of the Intermediaries Division, has been appointed Deputy General Manager of Consob. The decision was made by the Commission (Resolution No. 21041 of 11 September 2019).

The appointment starts from September 16 next and has a five-year term. Togna will remain as Head of the Intermediaries Division and will also support Mauro Nori, the new General Manager, who took office on 9 September last.

The Commission has also appointed, as the Head of Legal Advice, Maria Letizia Ermetes, currently Deputy of the Advocate General of Consob (Resolution No. 21038 of 6 September 2019). Her office starts from November 1, 2019.

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Mauro Nori appointed as General Manager of Consob (Press Release of September 4^th, 2019)

The Commission has appointed yesterday Mauro Nori new General Director of Consob.

Graduated in Law at the University of Florence, with post-university studies, dr. Nori has achieved significant experience in the public and private sector, covering, among other things, the position of Director General of INPS from 2009 to 2015 as well as Deputy Chief of Cabinet at the Ministry of Economy and Finance. He is currently a Councilor at the Court of Auditors.

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Brexit: Consob updates the Communications published in relation to the case of the United Kingdom leaving the EU without a withdrawal agreement ("no-deal") (Press Release of August 1^th, 2019)

Consob has today published amendments to Communication no. 7 of March 26th, 2019 which provides for the requirements for both British intermediaries operating in Italy and for Italian intermediaries operating in the United Kingdom, making reference to Decree Law no. 22/2019, which has been adopted by the Italian Government in case of hard Brexit, i.e. the United Kingdom leaving the European Union (EU) without a withdrawal agreement ("no-deal").

Amendments follow the publication in the Gazzetta Ufficiale of Law 41 of 20 May 2019, which converted, with amendments, Decree Law 22 of 25 March 2019. In order to allow the detection of amendments, the changes occurred are highlighted with bold-italics font.

The update does not result in new requirements to be met by intermediaries providing investment services and activities nor changes to the forms attached to the Communication no. 7. Therefore, notifications, applications for authorization and notices which have already been sent are still valid. Intermediaries must only transmit any changes and/or updates to the information and data previously disclosed and keep their clients informed.

Finally it should be noted that, due to the publication of the aforementioned Conversion Law, Communication n. 4 of March 14, 2019, in relation to financial markets, must be deemed to be superseded.

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Be aware of fraud! Consob intervenes for the first time to block unauthorized trading online websites - Implementation of the new supervisory powers given to the Authority by the "decree for growth" (Press Release of July 30^th, 2019)

Consob exercised for the first time the new supervisory powers it has received to enforce the fight against unauthorized financial activities on the web, blocking four websites which had been offering investment services without authorization.

The blocked websites are the following:
- https://www.allglobalmarkets.com
- https://marketsxchange.com
- https://sigmafortrade.com
- https://www.swisscfd.com
It is the first application of the new legislative rules which have been introduced in Italy by the recent "decree for growth" (Law n. 58 of June 28, 2019), by which Consob, the regulatory and supervisory Authority on financial markets, has been granted the power to order to the TLC networks operators the blocking of the unauthorized websites, preventing at once their access by all the users on Italian territory.

The regulatory framework has been so strengthened accordingly and the tools against financial abuses have been made more effective.

Until 2017 Consob has been publishing "warnings" concerning the risks connected with the services offered by unauthorized operators, which were only addressed to the general public. Since 2018, however, with the application of the new European regulation on the provision of investment services (Mifid2), the instruments given to Consob have been significantly enforced by the attribution of the new power to order the termination of the infringement to the unauthorized operators. Accordingly, Consob had only the power of asking the cancellation of the Italian version of the abusive sites to the host providers. With the current new power to order to the TLC networks managers the blocking of the websites, the new Italian legislation, still in its path through a full implementation, marks a significant step forward.

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Communications