News of the week:
Sustainability reporting by Italian listed companies. Consob conference, Rome, 20 April 2026
Changes to reduce the impact of reporting burdens on securitisations under market consultation
Watch for scams! Financial fraud: Consob blocks 32 fraudulent websites

Consob's decisions of the week

- NEWS OF THE WEEK -

On 20 April, at Consob's Rome headquarters, the conference 'Sustainability reporting by Italian listed companies. Regulatory developments and future challenges' will be held, during which the new Consob Report on sustainability reporting by Italian listed companies will be presented.

The event also aims to facilitate a dialogue between companies, investors and data providers on the main operational challenges and the evolution of ESG (Environmental, Social and Governance) reporting. Sustainability reporting is, in fact, undergoing a significant overhaul of the European regulatory framework, with major implications for business processes and the information needs of investors and data providers.

CONSOB Commissioner Gabriella Alemanno will open the proceedings. This will be followed by a keynote speech by Father Enzo Fortunato. The event will feature three panels focusing on corporate reporting, the use of ESG information in investment processes, and the quality and comparability of ESG data and ratings, with contributions from representatives of listed companies, institutional investors and specialist operators. The event will conclude with a speech by Guglielmina Onofri, Consob's General Manager for Sustainable Finance.

The event programme is available at this link.

The conference will take place on 20 April from 9.30 am at the Consob Auditorium, Via C. Monteverdi 35, Rome. Attendance in person is free of charge subject to room capacity , subject to prior registration: https://www.consob.it/web/area-pubblica/iscrizione-seminari.

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Consob has submitted for market consultation a number of amendments to its provisions on securitisations, issued in implementation of the Consolidated Law on Finance (Article 4-septies.2).

In light of the evidence gathered following an initial period of application of the Consob Provisions, amendments are proposed that are essentially aimed at reducing the burdens on operators, particularly in cases where they are required to report on securitisation transactions not only to Consob but also to the prudential authorities.

Among the most significant changes:

- the extension of the deadline for notifying securitisation transactions to one month from the date of issue, compared with the current 5 and 15 days respectively for simple, transparent and standardised ('STS') securitisations and for non-standardised securitisations. This proposal aligns the notification deadlines to Consob with those set by the prudential authorities, facilitating a unified management of the notification obligations incumbent on banks involved in STS securitisation transactions;

- the introduction, for significant banks, of the possibility to submit certificates of compliance with the Securitisation Regulation signed by persons delegated by the management body.

Other proposed amendments aim to refine the content of the Consob Provisions, in line with current provisions in the FAQs, for example regarding the possibility of delegating the task of transmitting information to Consob to the servicer of the securitisation transaction.

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As part of its efforts to combat financial fraud, Consob has ordered the blocking of a total of 32 websites.

Specifically, orders were issued to shut down 10 websites that were unlawfully providing investment services and activities relating to financial instruments, and 22 websites that were unlawfully providing services for crypto-assets. Below is the list of websites ordered to be taken down:

- "Fxcalle" (website www.fxcalle.com);

- "Fint-xpert" (website www.fint-xpert.com);

- "Primevaultfx" (website https://primevaultfx.com);

- "Trade-zonex" (website https://trade-zonex.com);

- "Bravonexmarkets" (website https://bravonexmarkets.com);

- "Avantcapitaltrade" (website https://avantcapitaltrade.com);

- "alchemyxmarkets" (website https://alchemyxmarkets.com);

- "Capibullmarket" (website https://capibullmarket.com);

- "Truenorthoptions" (website https://truenorthoptions.com);

- "Skylinefx" (website https://skylinefx.co);

- "Oxelvian" (websites: https://oxelvian.it, https://oxelvian.net, https://oxelvian.io, https://oxelvian.tech and https://oxelvian-it.net);

- "Eryxavin" (websites https://eryxavin.net, https://eryxavin.org and https://eryxavinit.com);

- "Kapidex Nx" (websites https://kapidexnx.net and https://kapidexnx);

- "Entratezza" (websites https://entratezza.com and https://entratezza-ia.com);

- "Fortunezza" (websites https://fortunezza.com and https://fortunezza.org);

- "Frame 2U Avapro" (websites https://frame-2u-avapro.com and https://frame-2u-avapro.org);

- "Valoranco" (websites https://valoranco.com and https://valoranco.org);

- "Rango Opularis" (websites https://rangoopularis.net, https://rangoopularis.com, https://rangoopularis-ai.com and https://rango-opularis.com).

This brings the total number of websites blocked by Consob since July 2019 – when the Authority was granted the power to order the blocking of websites belonging to unauthorised financial intermediaries – to 1,654. Of these, 168 relate to crypto-related activities.

The Authority has exercised the powers deriving from the 'Growth Decree' to block the websites of unauthorised financial intermediaries, as well as the powers provided for under the MiCAR framework (EU Regulation and Legislative Decree No 129/2024) regarding the blocking of websites through which crypto-asset services are provided to Italian investors without authorisation.

The measures adopted by Consob can be consulted on the website www.consob.it. Internet service providers operating in Italy are currently taking steps to block these websites. For technical reasons, the actual blocking may take a few days.

It is important that investors exercise the utmost diligence in making fully informed investment decisions, adopting common-sense practices that are essential for safeguarding their savings: among these, checking in advance, for websites offering investment services and crypto-asset services, that the operator through which the investment is made is authorised and, for the offers of financial products and crypto-assets, that the prospectus or white paper has been published.

Consob also draws attention to the evolution of deceptive practices that exploit the internet to steal users' money and personal data: there has been an increase in the use of new tools, such as emails and 'cloned' websites, fake profiles of politicians and celebrities, and content generated using artificial intelligence systems – such as images, voices or videos – with the aim of inducing investors to make harmful investment choices.

To this end, Consob invites investors to consult the dedicated information sheet containing advice on how to protect themselves from financial fraud in the age of artificial intelligence and reminds them that its website features a section entitled 'Watch for scams!', where useful information is available to warn investors against abusive financial schemes.

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Order, pursuant to Article 7-octies(b) of Legislative Decree No. 58 of 24 February 1998 (Consolidated Law on Finance – TUF), to put an end to the breach of Article 18 of the same TUF, committed by "Fxcalle" (website www.fxcalle.com); "Fint-xpert" (website www.fint-xpert.com); "Primevaultfx" (website https://primevaultfx.com); "Trade-zonex" (website https://trade-zonex.com); "Bravonexmarkets" (website https://bravonexmarkets.com); "Avantcapitaltrade" (website https://avantcapitaltrade.com); "alchemyxmarkets" (website https://alchemyxmarkets.com); "Capibullmarket" (website https://capibullmarket.com); "Truenorthoptions" (website https://truenorthoptions.com); "Skylinefx" (website https://skylinefx.co) (Resolution No. 23938 of 2 April 2026).

Order, pursuant to Article 94(1)(h) of Regulation (EU) 2023/1114 ("MiCAR") and Article 4(1) of Legislative Decree No 129/2024, to put an end to the breach of Article 59 of MiCAR committed by: "Oxelvian" (websites https://oxelvian.it: https://oxelvian.net, https://oxelvian.io, https://oxelvian.tech and https://oxelvian-it.net); "Eryxavin" (websites https://eryxavin.net, https://eryxavin.org and https://eryxavinit.com); "Kapidex Nx" (websites https://kapidexnx.net and https://kapidexnx); "Entratezza" (websites https://entratezza.com and https://entratezza-ia.com); "Fortunezza" (websites https://fortunezza.com and https://fortunezza.org); "Frame 2U Avapro" (websites https://frame-2u-avapro.com and https://frame-2u-avapro.org); "Valoranco" (websites https://valoranco.com and https://valoranco.org); "Rango Opularis" (websites https://rangoopularis.net, https://rangoopularis.com, https://rangoopularis-ai.com and https://rango-opularis.com) (Resolution No. 23937 of 2 April 2026).

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