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Abusive Financial Services: Consob obscure 5 websites (Press Release of May 7th 2020)

Consob has ordered the blackout of 5 new websites, offering abusive financial services.

The Authority availed itself of the powers resulting from the "Growth Decree" (‘Decreto Crescita', Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies) on the basis of which Consob can order Internet connectivity service providers to inhibit access from Italy to the websites through which financial services are offered without due authorization.

Here below the names of the said websites and companies:

- CNBSFIN Ltd (www.cnbsfin.com website);

- "BitFxMarkets" (www.bitfxmarkets.com website);

- STSRoyal Ltd e Capital Letter GMBH (www.stsroyal.com website);

- Game Capital ADS (www.24proinvestors.com website);

- One Thousand One Ltd (www.daxcfd.com website).

Accordingly, it has risen to 199 the overall number of websites obscured by Consob starting from July 2019, since the Authority was empowered as to order the blackout of the unauthorized financial intermediaries websites.

The measures adopted by Consob are available on the website www.consob.it.

The activities for the blackout of the said websites by the Internet connectivity providers operating on the Italian territory are in progress. For technical reasons it can take a few days for making them effective.

Consob warns all investors about the value of making use of their utmost diligence in order to make their investment choices in full awareness, with the adoption of behaviors based on common sense, which are essential to safeguard their savings: among these, a preventive verification, with respect to websites which offer financial services, that the subject through which their investment is made is an authorized entity and, in relation to financial products offers, that the prospectus has been published.

To this end, Consob reminds that on the homepage of its website www.consob.it , the section "Watch out for scams!" is available, where useful information have been published for the purpose of warning investors about the abusive financial initiatives.

 Press Release PDF version