Press release 20/11/2020 - CONSOB AND ITS ACTIVITIES
Consob has ordered the blackout of 5 new sites that abusively offer financial services.
The authority availed itself of the new powers resulting from the 'Decreto Crescita' ('Growth Decree'; Law no. 58 of 28 June 2019, article 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 authorisation.
Below are the sites Consob has ordered to be blacked out:
- - ForTradersFX Ltd (website www.for-tradersfx.com);
- - "Mibtrades" (website www.mibtrades.com);
- - "Iacademy" (websites www.iacademy.io and urliacademy.io);
- - GAM Group Ltd e LLC IC Prime Broker (website https://marketsfx.co);
- - HBC Market Ltd and ZentraleZahlstelle Ltd (website www.hbc-markets.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 335.
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 behaviours, 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 authorised, 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.
