Press releases 2019 - CONSOB AND ITS ACTIVITIES
Press releases 2019
Consob has ordered the black-out of 16 websites that offer financial services illegally (Press Release of December 20th, 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:
- Allianz Capital Ltd (www.capitalallianze.com);
- WebNet Ltd (www.2dots.it);
- "Cleavesecurities" (www.cleavesecurities.com);
- Game Capital Ads Limited (www.welttrades.com e www.it.welttrades.com);
- BCProfit2019 (www.bcprofit2019.com);
- Terratech Ltd (www.swissfingroup.com)
- Dubai FXM Ltd (www.dubaifxm.trade e www.dubaifxm.trading);
- "VirtualStocks" (www.virtualstocks.co e www.virtualstocks.cc);
- "RoyalFunds" (www.royalfunds.co e www.royalfunds.cc);
- Lctrade Ltd (www.lctrade.net);
- Arrow Capital Ltd (www.lvgrowmarkets.com e www.partners.lvgrowmarkets.com);
The total amount of websites which have been blocked by Consob since last July has so risen to 117 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.
ESMA publishes a report on short-termism within the framework of sustainable finance initiatives (Press Release of December 19th, 2019)
The European regulatory and supervisory authority for financial markets (ESMA) has published a report on the undue pressure that the financial sector can exert against the development of a long-term corporate vision, in response to the request of the European Commission.
The assessment of the factors that can contribute to short-termism and disregard long-term risks and opportunities as well is taken into account by ESMA's work on sustainable finance. This initiative is included among the various initiatives projected by the European Commission in its Action Plan related to financing sustainable growth.
On the basis of the evidence gathered by stakeholders ESMA assesses, among other things, the extent to which short-termism can be mitigated or intensified by current legislation about non-financial disclosure, the accounting methods (fair value), the commitment of institutional shareholders, the remuneration of fund managers and company management, as well as the use of credit default swaps by investment funds.
In the aforementioned opinion ESMA recommends to the European Commission some policy actions which could help to promote a long-term vision in economic-financial activities, to strengthen the commitment of institutional investors, to favor more responsible investment decisions and a higher quality and comparability as well in non-financial disclosure.
Financial Dispute Arbitrator: Consob renews the three-year mandate to the members today in charge (Press Release of December 13th, 2019)
On December 12, 2019 Consob confirmed the three-year appointment to the members of the Financial Dispute Arbitrator (Arbitro per le controversie finanziario - Acf), the body set for the out-of-court resolution of disputes between intermediaries and savers.
The members of the board of Arbitrator remain in office for a three-year period and they are renewable only one time for three years more. The first term for both the effective and the alternate members expired on December 12, 2019, with the exception of President Gianpaolo Barbuzzi, appointed for a five-year term, and Gustavo Olivieri, who was appointed last year to replace Federico Ferro-Luzzi, who had resigned.
Actual members have been confirmed:
- Daniela Morgante and Marilena Rispoli Farina (on Consob designation);
- Giorgio Afferni (on designation of the National Council of Consumers and Users);
- Giuseppe Guizzi (on designation of financial intermediaries).
Alternate members have been confirmed:
- Antonio Albanese, Maria Debora Braga, Michele De Mari, Raffaele Di Raimo, Luigi Salamone (on Consob designation);
- Vincenzo Farina and Donato Patera (on designation of the National Council of Consumers and Users);
- Francesco De Santis and Raffaele Lener (on designation of financial intermediaries).
Consob has ordered the black-out of 3 websites that offer financial services illegally (Press Release of December 13th, 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:
- Priminvestfx Ltd (priminvestfx.com);
- Goldtech Media Services Oü (fin-fnr.com);
- Globalix Ltd (global-x.io).
The total amount of websites which have been blocked by Consob since last July has so risen to 101 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.
Consob has ordered the black-out of 4 websites that offer financial services illegally (Press Release of December 6th, 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:
- Equalizer Ltd Eood (https://www.capitalgma.com);
- Swiss Investment Corporation Ltd and Polis Systems Ltd (https://swissaz.com);
- Gam Group Ltd (https://marketsfxcap.com);
- Platiniumfx Ltd (www.platiniumfx.com).
The total amount of websites which have been blocked by Consob since last July has so risen to 98 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.
Press release PDF
Cybersecurity, Consob adheres to the CERTFin
Consob adheres to CERTFin, the highly specialized cybersecurity structure set up by the Bank of Italy, Abi, ANIA, IVASS and the ABI Lab Consortium to strengthen collaboration against IT threats related to the development of new technologies and the digital economy, guaranteeing an always greater security for operators in the Italian banking, insurance and financial world and for digital services offered to families, business and public administrations.
This is established by the agreement signed by the Governor of the Bank of Italy, Ignazio Visco, by the President of IVASS, Fabio Panetta, by the Director General of the ABI, Giovanni Sabatini, by the Director General of ANIA, Dario Focarelli, by the President of Consob, Paolo Savona and by the President of ABI Lab, Pierfrancesco Gaggi, to supplement both the agreement signed at the end of 2016 to establish the CERTFin and the agreement signed at the end of 2018 for the adhesion of ANIA and IVASS.
In particular, the new agreement provides for the entry of Consob into the Strategic Committee, the governing body entrusted with the CERTFin address decisions.
Based on the principle of public-private cooperation, CERTFin has the task of raising the cyber risks management capacity of banking, insurance and financial operators, strengthening the operational resilience of the Italian financial system as a whole, through operational and strategic support to the activities of prevention, preparation and response to cyber attacks and security incidents.
Currently, fifty financial sector operators (banks, insurances and market infrastructures) are part of the CERTFin; among them, eleven operators also participate in the so-called "Virtual Team", a group of experts created specifically to investigate the main phenomena detected for the benefit of the whole reference community.
The CERTFin carries out daily a careful activity of data collection, indications, reports and analysis of the main phenomena linked to cybersecurity that can have an impact on the sector, favoring the timely and effective exchange of information between Italian banking and financial operators; since the start of its activity in 2017, the organization has already sent more than 3,100 reports with reference to more than 1,700 different phenomena detected and analyzed.
In line with the National Cybersecurity Strategy, the CERTFin also performs a function of linking up with all the other institutional initiatives launched in Italy regarding cybersecurity and protection of critical infrastructure, consolidating collaboration and further expanding the network of institutional stakeholders and national and international experts.
Consob has ordered the black-out of 6 websites that offer financial services illegally (Press Release of November 29th, 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:
- Orion Consulting Ltd (www.kapitalswiss.com);
- CapitalTechFX (https://capitaltech24.com);
- Game Capital Ads Limited (https://360worldbtc.com e https://it.360worldbtc.com);
- Maximus Global Markets Ltd (https://evolutionbrokers.com);
- ActivBroker Ltd (https://activbroker.com).
The total amount of websites which have been blocked by Consob since last July has so risen to 94 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.
Consob has ordered the black-out of 5 websites that offer financial services illegally (Press Release of November 22nd, 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:
- Redal Ltd, Elit Property Vision Ltd e Richmondfx Ltd (https://richmondfx.com);
- Globalfx Ltd (https://globalfx.org);
- Rmt 500 Ltd (https://rmt500.com);
- Premium Solutions Ltd (https://thepremiumbrokers.com);
- Aj Asset Management (www.ajassetmanagement.com).
The total amount of websites which have been blocked by Consob since last July has so risen to 88 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.
Consob has ordered the black-out of 6 websites that offer financial services illegally (Press Release of November 15th, 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:
- Waltika Partners Ltd (https://imperial-finance.io);
- CobraCFD Ltd (www.c0bracfd.com and www.cobracfd.biz/it);
- Alfa Financial, Zurich Corporation e lsystems LTD (https://web.zurichcorporation.com);
- Energy Capital Group Eood (www.omegafx.io);
- Crypto Consultancy Ltd (www.cfmcapital.com).
The total amount of websites which have been blocked by Consob since last July has so risen to 83 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.
Consob has ordered the black-out of 6 websites that offer financial services illegally (Press Release of November 11th, 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.
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 6th, 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.
Consob has ordered the black-out of 6 websites that offer financial services illegally (Press Release of November 4th, 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.
Note on the Bio-on case (Press Release of October 25th, 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.
Be aware of fraud! Consob orders to internet providers to block the access to 7 unauthorized websites offering financial services (Press Release October 24th, 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.
Be aware of fraud! Consob orders to internet providers to block the access to 5 unauthorized websites offering financial services (Press Release October 18th, 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);
- Salvax 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.
Signed in Rome a new Memorandum of Understandings between Guardia di Finanza and Consob (Joint Press Release of October 15th, 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.
Be aware of fraud! Consob orders to internet providers to block the access to 4 unauthorized websites offering financial services (Press Release October 11th, 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.
Be aware of fraud! Consob orders to internet providers to block the access to 4 unauthorized websites offering financial services (Press Release October 4th, 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 1st October 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".
Be aware of fraud! Consob orders to internet providers to block the access to 5 unauthorized websites offering financial services (Press Release of September 27th, 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.