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  • Consob/G20 event "Regulating innovation in the financial system to power a resilient recovery" (25 October 2021)

    Published: 18/10/2021

    25 October 2021: Consob/G20 event "Regulating innovation in the financial system to power a resilient recovery"

    As part of the Italian Presidency of the G20, finance track, Consob is organising the conference "Regulating innovation in the financial system to power a resilient recovery: Squaring the circle between regulation, finance, innovation, and sustainability".

    The conference will take place on 25 October at 9.30 am, at Palazzo Spada in Rome, remotely through the link to the website https://www.g20.org.

    The conference will be divided into three thematic sessions with the participation of international public and private speakers and experts. The results will be transmitted to G20 Finance Ministers and Central Bank Governors.

    The challenges posed by the Covid pandemic to humanity and the planet will be the main theme of the works, with the awareness that recovery requires a shared effort between the public and private sectors, towards the green and digital transition and to support social progress. Finance therefore has a fundamental role, placing itself at the heart of innovation processes. In fact, in recent years, both digital (FinTech) and sustainable (ESG) finance has grown exponentially, offering completely new solutions to promote greater sustainability: from digital payments through crowdfunding, digital public procurement, up to Green FinTech. Regulators therefore have a crucial role in determining the dynamic framework of reference to allow finance to affect the real economy, people and the planet, while complying with the supervisory duties of the Authorities on investor protection and market stability.

    The meeting will aim to square the circle between regulation, finance, innovation and sustainability, as well as to explore in depth the new role of financial regulators in putting finance at the base of the transition to a sustainable recovery.

    The works will be opened (9.30am - 9.35am) with a welcome greeting by Filippo Patroni Griffi (President Italian Council of State) and then  (9.35am-10.00am) introduced by  Consob President Paolo Savona.

    Session I (10.00am-12.00pm) entitled "The role of the experimental regulator' in building an enabling eco system", chaired by Professor Francesca Medda (Consob), involves the participation of: Ulrich Bindseil (General Directorfor Market Infrastructures and Payments - European Central Bank); Skeikh Abdullah bin Saoud Al Thani, (Governor - Qatar Central Bank); Sholthana Begum (Technical Head of RegTech and Data Innovation, Bank of England; Franco Frattini (President - Council of State).

    II Session (1.30pm-3.00pm) entitled "Digital innovation: growth, inclusion and disruption", chaired by Paolo Ciocca (Consob Commissioner), involves the participation of: Simona Paravani (Global Chief Investment Officer – BlackRock); Haifeng Xu (Chairman, Bank of China-Luxembourg); Silvio Micali (Ford Professor of Engineering, MIT and Founder, Algorand); Matteo del Fante (CEO and General Manager, Poste Italiane, Poste Italiane).

    III Session (3.30pm-5.00pm) entitled "Sustainable finance: profit together with social and environmental impact", chaired by Filippo Addarii (PlusValue – UCL), involves the participation of Magda Bianco (Co-Chair G20 Global Partnership for Financial Inclusion, Bank of Italy); Matthew King (Deputy Director, Directorate I, European Commission); Mike Froman (Vice Chairman, Mastercard); Karin Isaksson (Director, Nordic Development Fund).

    Poster

  • Abusive financial services: Consob blacks out 10 abusive websites ( Press Release of 14 October 2021)

    Published: 14/10/2021

    Consob has ordered the blackout of 10 new websites that abusively offer financial services.

    The Authority availed itself of the powers deriving from the "Growth Decree" (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.

    Below are the websites Consob has ordered to be blacked out:

    - Vibeinv Invest Limited (website www.vibeinvv.com);

    - AdmiralFX Cyprus Ltd (website www.admiralfx.net);

    - AdmiralECN Cyprus Ltd (website www.admiralecn.net);

    - Billion Traders Services OU (website https://mytradingportal.com and related page https://my.mytradingportal.com);

    - Cam Trade Ltd (website https://camtrade.io and related page https://accounts.camtrade.io);

    - Donnybrook Consulting Ltd (websites https://absystem.pro and https://onyxprofit.pro);

    - "Globecfds" (website www.globalcfds.com and related page https://client.globecfds.com);

    - Chambers Investment Trading Pty Ltd (website https://investchambers.com and related page https://trade.investchambers.com);

    - Vigo and Co LLC (website www.onirofx.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 532.

    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 behaviors, 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 authorized, 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.

     Press Release in PDF

  • Esma call for evidence of 1st October 2021 on the European Commission mandate on certain aspects relating to retail investor protection (12 October 2021)

    Published: 12/10/2021

    In the September 2020 new Capital Markets Union Action Plan, the European Commission announced its intention to publish a strategy for retail investments in Europe in the first half of 2022.

    As part of its evidence gathering, the Commission launched in May 2021 an extensive three-month public consultation on a wide array of aspects related to retail investor protection.

    On 27 July 2021 the Commission sent to ESMA a request for advice asking ESMA to assist the Commission in the development of its strategy for retail investments and to make appropriate adjustments to the legislative framework.

    ESMA was asked to deliver the report to the Commission services by 30 April 2022.

     Call for evidence ESMA35-43-2827 of 1st October 2021 (contributions should be submitted by 2 January 2022)

  • Protocol of understanding between Consob and Cassa Depositi e Prestiti Spa on the interventions made by the national strategic fund "Patrimonio Rilancio" (8 October 2021)

    Published: 08/10/2021

    Consob and Cassa Depositi e Prestiti (CDP) signed, on 29 September last, the Protocol of understanding on the interventions carried out by the "Patrimonio Rilancio", pursuant to article 27, paragraph 11, of the decree-law of 19 May 2020, n. 34, converted into law, with amendments, by article 1, paragraph 1, of the law of 17 July 2020, n. 77.

    With that Protocol Consob and Cdp intend to define the general principles aimed at regulating the information flows and the obligations between the Cdp and Consob relating to the interventions carried out by the "Patrimonio Rilancio" in companies issuing shares listed on regulated markets, without prejudice to the legislation, including regulations, relating to the disclosure obligations associated with the participation in the share capital of such companies.

     Protocol of understandig [only Italian version]

  • Consob guidance on the scrutiny and approval processes of the prospectuses (8 October 2021)

    Published: 08/10/2021

    Consob publishes a guidance on the scrutiny and approval process in order to facilitate the efficient and timely approval of the prospectuses and to support external parties throughout the formalities required for their filing.

     Consob prospectuses guidance

  • Amendments to the Issuers' Regulation for the adaptation of the provisions on the prospectus to the new rules introduced by Regulation (EU) 2019/2115, on the promotion and use of growth markets for SMEs, by Regulation (EU) 2021/337, which introduces the EU Recovery Prospectus, and by the Legislative Decree no. 17 of 2 February 2021, for the implementation of the Prospectus Regulation in national law - Public Consultation (8 October 2021)

    Published: 08/10/2021

    Consob launches a consultation with the market in relation to the changes to be made to the Issuers' Regulation for the implementation of the European regulations on the prospectus which has recently been amended by certain provisions of the Regulation (EU) 2017/1129, relating to the prospectus to be published for the public offer or admission to trading of securities on a regulated market ("Prospectus Regulation"), also aimed at allowing, in connection with the pandemic crisis in progress, companies, including SMEs, to raise capital in time restricted and with low costs.

    On March 26, 2021, the Delegated Regulation (EU) 2021/528 was published, implementing the Prospectus Regulation, as amended by Regulation (EU) 2019/2115, on the promotion and use of growth markets for SMEs (so-called "SME Listing" regulation).

    On February 26, 2021, Regulation (EU) 2021/337 was published, which amends the Prospectus Regulation regarding the EU Recovery Prospectus and introduces targeted adjustments for financial intermediaries.

    As regards the coordination of the Issuers' Regulation with the new rules of the TUF following the Legislative Decree no. 17/2021, there is a need to make new changes and to exercise the power to supervise the advertising activity relating to an offer to the public contained in article 101, paragraph 1, of the Consolidated Law on Finance (Legislative Decree no. 58 of 24 February 1998).

     Consultation document [only Italian version]

  • Abusive financial services: Consob blacks out 6 abusive websites (Press Release of 7 October 2021)

    Published: 07/10/2021

    Consob has ordered the blackout of 6 new websites that offer financial services/financial products illegally: 5 illegal financial intermediation websites and 1 website through which an offer of financial products is carried out in the absence of a prospectus.

    The Authority availed itself of the powers deriving from the "Growth Decree" (Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), relating to the blackout of the sites of abusive financial intermediaries, as well as of the power introduced by the Law no. 8 of 28 February 2020 (Article no. 4, paragraph 3-bis), with reference to the blackout of the site through which the abusive offer is carried out.

    Below are the websites Consob has ordered to be blacked out:

    -  "FinoMarkets" (website www.finomarkets.com);

    - Sealtd Ltd (website www.sealtd.io and related pages  https://trading.sealtd.io and https://secure.sealtd.io);

    - EurofxFinance Limited (website www.eurofxfinance.com and related page https://client.eurofxfinance.com);

    - Seabreeze Partners Ltd (website www.profitassist.co);

    - "Xglobalfin" (website www.xglobalfin.com);

    - Aga Trading Platform LTD (website https://agatrading.club/ita)

    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 522.

    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 behaviors, 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 authorized, 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.

     Press Release in PDF

  • Wiw, the World Investor's Week, starts in the name of "glocal"- Monday 4 October, on the first day, an international conference on sustainable finance and a theatrical show in Casarano (Salento) on how to defend against scams (Press release of 2 October 2021)

    Published: 02/10/2021

    PRESS RELEASE

    Global and at the same time local: Wiw (World Investor Week) opens under the banner of glocal, the World Investor Week, which begins the day after tomorrow, Monday 4 October, with an international conference on sustainable finance and a theatrical performance by financial education in the small town of Casarano in Salento.

    The first appointment in a long series of training events that lasted throughout the week is the Enviromental, social and governance objectives for well-informed and protected investors "conference, a global webinar organized by Consob in collaboration with Iosco (poster), the world organization of regulatory and supervisory authorities on financial markets, to which around 130 countries adhere.

    Some of the leading experts in the field discuss sustainable finance and investor protection. Erik Theeden, director general of the Fsa, the Swedish supervisory authority and president of the Iosco task force on sustainable finance, opens the meeting. To sum up this comparison, Professor Chiara Mosca, Consob Commissioner.

    On the same day, Consob staged the theatrical show "Watch for Scams!". The screenplay is taken from the autobiography of Charles Ponzi, the Italian swindler who emigrated to the United States who at the beginning of the twentieth century lured thousands of American savers into his trap in a fraud that became famous as the "Ponzi scheme". A century later that same pattern still recurs today in the scams that circulate through the most disparate channels such as the web, telephone, door to door. The event, in person and on a digital platform, is designed as a training tool that combines education and entertainment (edutainment).

    In the following days, the Wiw continues throughout Italy with a wide range of training opportunities (program) in the field of financial education aimed at reaching the undifferentiated public in its various components: young people, students, adults, seniors, families, businesses.

    Wiw is an initiative of Iosco, managed in Italy by Consob. Investor's Week, now in its fifth edition this year, is part of the fourth Financial Education Month, organized in October by the National Committee for Financial Education.

     Press release PDF version

  • The fourth edition #OttobreEdufin2021 starts today - Hundreds of virtual opportunities, but also again in presence to talk about finance, insurance and social security throughout Italy (Press release of 1 October 2021)

    Published: 01/10/2021

      

    PRESS RELEASE

    The fourth edition of the Financial Education Month (#OttobreEdufin2021) starts today. The initiative is promoted by the Committee for the planning and coordination of financial education activities (Edufin Committee) of which CONSOB is a member, too. From the 1st to the 31st of October it will bring throughout Italy many appointments, finally in presence once again, to put the issues of financial education, insurance and social security in the center of the attention of Italians.

    The 2021 edition invites us to look forward, beyond the Covid-19 pandemic, to precisely learn from the crisis connected with the spread of the virus. It also emphasizes the importance of taking the time to get basic skills in the financial, insurance and social security fields.

    The official slogan of Financial Education Month is, in fact, "Take care of your future! - The ABC of finance – Knowledge bears its fruit", the same as the national communication campaign carried out by the Edufin Committee, in collaboration with the Department for Information and Publishing of the Presidency of the Council of Ministers, and with the contribution of resources of the Ministry for Economic Development, deriving from Antitrust sanctions. The campaign will start on 4 October on local TV, radio, internet, social media and will also be visible on the free spaces of RAI from 5 October.

    As every year, the Month opens with the World Investor Week (Wiw). The Insurance Education Day, on the 11th of October, and the Social Security Education Week, from the 18 th to the 24 th October, are back too.

    The calendar of the 2021 Financial Education Month, which is continuously updated, can be consulted on the portal of the QuelloCheConta Committee and on the Facebook profile of the @ITAedufin Committee.

    The program includes seminars, lessons, games, workshops and free shows with the aim of offering opportunities for information, discussing and understanding how to manage and plan personal and family financial resources, deepening the topics of savings, investments, insurance and pensions.

    To inaugurate #OctoberEdufin2021, an appointment in the theater promoted by the Bank of Italy can be followed in streaming today, from 10 a.m. to 12 on the websites: Quellocheconta.gov.it and L'Economia per tutti and on the institutional channels of the Bank of Italy .

    To participate in the initiatives, which will take place in presence and via the web, please scroll through the calendar, choose the event of your interest, register and participate.

     Press release PDF version

  • Lectio magistralis by President Paolo Savona at Department of Economics and Business Sciences of University of Cagliari on: "Theoretical and practical features of an economy with cryptocurrencies" (1 October 2021)

    Published: 01/10/2021

  • Consob global webinar on Sustainable Finance (WIW 2021) "Environmental, social and governance objectives for well-informed and protected investors" - 4 October 2021

    Published: 01/10/2021

    Consob is running a global webinar as part of the activities planned within the fifth edition of the World Investor Week (WIW) 2021, the initiative promoted by the International Organization of Securities Commissions (IOSCO) to raise awareness of the public on the importance of financial education to increase understanding and independent judgement in making financial decisions.

    The webinar, scheduled on Monday 4 October from 13:00 to 15:30, focuses on sustainable finance - one of the key topics of the 2021 global campaign - and counts on the participation of a stellar line-up of international expert speakers, who will debate on the need to ensure investor protection and the opportunity to promote investor education.  

    The virtual event will be opened by a keynote speech from Erik Theeden, Chair of the IOSCO Task Force on sustainability, and will continue with two panels moderated by Consob: the first focused on institutional aspects and the related implications in terms of investor protection (with the participation of the Italian Ministry of Economy and Finance, the European Commission, the IFRS Foundation, ESMA and EFAMA / IIFA) and the second aimed at investigating the role that can be played by investor education with respect to financial sustainability (with the participation of the OECD, academia, the Brazilian CVM, Better Finance and the CFA Institute). Newly appointed Consob Commissioner Maria Chiara Mosca will close the event with some final remarks.

    Participants must register via the link https://primetime.bluejeans.com/a2m/register/fbaypugj, which will allow the assignment of a personalized access to the webinar. During the event it will be possible to ask questions to the speakers through the specific function of the platform chat.

     Poster

  • The time window for the presentation of projects linked to the regulatory sandbox opens (Joint press release Bank of Italy, Consob and IVASS of 30 September 2021)

    Published: 30/09/2021

    PRESS RELEASE

    Following the entry into force of the decree of the Ministry of Economy and Finance of 30 April 2021, no 100, which governs the procedures for carrying out in Italy the experimentation of techno-finance activities (FinTech), the Bank of Italy, Consob and IVASS have established that the first time window for the submission of applications for admission to the regulatory sandbox will be open from 15 November 2021 to 15 January 2022.

    In the first window there are not limitations in terms of maximum number and thematic area of eligible projects.

    The sandbox will allow experimentation of innovative solutions, thanks to the benefits of a simplified transitional regime and in constant dialogue with sectorial Authorities.

    For additional information please refer to the section dedicated to the sandbox on the websites of Bank of Italy, Consob and IVASS.

    Informal discussions with the Authorities are still in progress, according to the procedures indicated in the respective websites.

     Press release PDF version

  • World Investor Week (Wiw) is back - The fifth edition of the World Investor Week kicks off in 100 countries - From Monday 4 October financial education spreads throughout Italy to promote basic literacy (Press release of 29 September 2021)

    Published: 29/09/2021

         

    PRESS RELEASE

    The promotion of basic financial literacy to reduce savers' vulnerability to the risks of scams and the dissemination the minimum knowledge necessary to seize the opportunities of the markets.

    With this objective the World Investor Week (Wiw), at its fifth edition, is back this year.

    The initiative, managed in Italy by Consob, is part of a project launched in 2017 by Iosco, the world organization of regulatory and supervisory Authorities on financial markets, with the contribution of about 100 countries out of 130 Iosco members.

    Starting from Monday 4 October, for a whole week, financial education events will be organized throughout Italy – from large cities to small and very small centers – with the aim of reaching the general public: young people, students, adults, seniors, families, businesses. Many training tools, both traditional and innovative, will be used: theatre performances, quizzes, fairy tales, conferences, seminars.

    From global to local: among the events scheduled on the first day the Iosco International Conference on Sustainable Finance but also, in Casarano (Lecce), the theatre performance bringing to the stage the story of Charles Ponzi, the scammer who, at the beginning of the twentieth century, managed to ensnare thousands of savers in the United States thank to the adoption of a scheme of scamming which is still widely adopted today in various forms, from the web to door to door.

    The 2021 edition will be focused on sustainable finance and prevention from scamming. Among the other topics covered you may find cryptocurrencies and decision-making processes which are at the basis of a conscious investment.

    The project relies on the collaboration among various private and public subjects: the Association of Professors of Economics of Intermediaries and Financial Markets; the Polytechnic University of Milan; the Regional School Office of the Lombardy region; the Foundation for Financial Education and Savings; the Global Thinking Foundation; the Savings Museum of Turin; the National Association of Financial Advisors; the approximately 40 Universities affiliated with Consob

    Since 2018 Wiw is an integral part of the Month of Financial Education, organized in October by the National Committee for Financial Education, to which Consob participates as a member.

     Press release PDF version

     Calendar of events

  • Abusive financial services: Consob blacks out 6 abusive websites (Press release of 29 September 2021)

    Published: 29/09/2021

    PRESS RELEASE

    Consob has ordered the blackout of 6 new websites that offer financial services/financial products illegally: 5 illegal financial intermediation websites and 1 website through which an offer of financial products is carried out in the absence of a prospectus.

    The Authority availed itself of the powers deriving from the "Growth Decree" (Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), relating to the blackout of the sites of abusive financial intermediaries, as well as of the power introduced by the Law no. 8 of 28 February 2020 (Article no. 4, paragraph 3-bis), with reference to the blackout of the site through which the abusive offer is carried out.

    Below are the websites Consob has ordered to be blacked out:

    • Evolution Markets LTD (website https://evom-ltd.com and related page https://accounts.evom-ltd.com);
    • RT Global (website www.app-trader.biz and related page https://trading.app-trader.biz);
    • "Bitawave Global Limited" e Bita System Ltd (website https://bitawave.com);
    •  "InvestiFx" (website https://investifx.com);
    • "VestleFx" (website https://vestlefx.com and related page https://client.vestlefx.com).
    • "Amicus Investment Ltd" (website https://amicusinvest.net).

    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 516.

    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 behaviors, 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 authorized, 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.

     Press release PDF version

  • Abusive financial services: Consob blacks out 5 abusive websites (Press Release of 24 September)

    Published: 24/09/2021

    Consob has ordered the blackout of 5 new websites that abusively offer financial services.

    The Authority availed itself of the powers deriving from the "Growth Decree" (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.

    Below are the websites Consob has ordered to be blacked out:

    - Lithe Group Ltd (website https://platinex.co and related page https://client.platinex.co/dasboard);

    - Renaissance Invest LTD (website www.renaissanceinvestltd.co);

    - Tremisa Ltd (website www.askemarket.com);

    - "Investus FG" (website https://investusfg.com and related page https://secure.investusfg.com);

    - Kiplar Ltd (website www.kiplar.org).

    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 510.

    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 behaviors, 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 authorized, 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.

     Press Release in PDF

  • Abusive financial services: exceeded the threshold of 500 websites blacked out by Consob (Press Release of 17 September 2021)

    Published: 17/09/2021

    Abusive financial services: exceeded the threshold of 500 websites blacked out  by Consob

    The number of websites blacked out by Consob has been risen to over 500 in just over two years, since July 2019 when the Supervisory Authority obtained the interdiction power aimed  to prevent  abusive financial services.  With the last 10 new websites obscured  the number of websites blacked out has thus risen to 505.

    The Authority availed itself of the powers deriving from the "Growth Decree" (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

    Below are the websites Consob has ordered to be blacked out:

    - Dzikanta Limited (website https://euromts.uk);

    - Felicity Group Ltd (website https://unionstock.cc);

    - GS4trade Invest Limited (website https://gs4trade.com);

    - "Capitrades" (website https://capitrades.com and related page https://secure.capitrades.com);

    - FUNDIZA Ltd (website www.fundiza.com);

    - Plus CFD Ltd (website https://pluscfd.co and related page https://accounts.pluscfd.co);

    - "Medica Trade" (website https://medicatrade.cc and related page https://client.medicatrade.cc);

    - Nata Trade Limited (website www.nata-trade.com and page https://webtrader.preminvtradplatform.com);

    - Eu Investments Limited e James Long (Masons) Limited (website https://eu-investings.com and related page https://client.eu-investings.com);

    - "DevTech Holding" (website www.capital-swiss.com and related page https://clientarea.capital-swiss.com).

    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 behaviors, 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 authorized, 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.

     Press Release in  PDF

  • Chiara Mosca from today in office as Consob Commissioner (Press Release of 7 September 2021)

    Published: 07/09/2021

    PRESS RELEASE

    Professor Chiara Mosca today took up her new role as Consob Commissioner.

    Her installation in office took place during a Commission meeting.

    Mosca takes the place of Professor Anna Genovese, whose unrenewable mandate expired on 14 July last.

    The College is thus reconstituted in its integral composition of five members. It includes the President Paolo Savona and, in order of seniority of the Institute, the Commissioners Giuseppe Maria Berruti, Carmine Di Noia, Paolo Ciocca and Chiara Mosca.

     Press Release PDF version

  • Trends and risks of the Italian financial system in a comparative perspective (2 August 2021)

    Published: 02/08/2021

    The Report analyses the dynamics of financial markets in the first half of 2021, highlighting the main vulnerabilities in the context of the crisis triggered by the pandemic, and it explores some of the issues related to the development of sustainable finance and crypto assets. The Report is divided into eight sections. Section 1 shows the impact of the crisis on economic activity. Section 2 analyses the monetary and fiscal policy measures adopted by national and European authorities to tackle the negative effects of the crisis. Sections 3 and 4 examine equity and bond market trends, respectively. The next three sections analyse the impact of the crisis on non-financial corporations, banks and households. Section 8 examines the main trends of the mutual fund industry.

  • Marketing in Italy of UCITS and AIF: the information required by regulation (EU) 2019/1156 has been published (2 August 2021)

    Published: 02/08/2021

    Consob, in accordance with the provisions of Articles 5 and 10 of Regulation (EU) 2019/1156 on the cross-border distribution of collective investment undertakings for savings - UCITS, has published (https://www.consob.it/web/area-operativa-interattiva/sgr-sicav#sgr1) the information relating to the applicable provisions on the requirements for the marketing of UCITS and AIFs in Italy, as well as the information relating to supervisory contributions in relation to the operations of EU and EU Geographical managers in Italy.

  • Abusive financial services: Consob blacks out 10 abusive websites (Press Release of 30 July 2021)

    Published: 30/07/2021

    Consob has ordered the blackout of 10 new websites that abusively offer financial services.

    The Authority availed itself of the powers deriving from the "Growth Decree" (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.

    Below are the websites Consob has ordered to be blacked out:

    - Evergo Ltd (website www.4x-trade.com and page https://client.tradefiled.com);

    - Trade Action Ltd (website https://trades-action.com and related page https://accounts.trades-action.com);

    - Nab Europe Limited (website www.nabinv.com);

    - FX24 Investment Ltd (website www.fx24.live and related page https://my.fx24.live):

    - Prim Global Reach Ltd - PrimeATrade Limited - FX Publications Inc. (website https://primaatrade.com and related page https://client.primaatrade.com)

    - Fantex (website https://www1.fantex.co, URL https://fantex.co and related page https://webtrader.fantex.co);

    - "Cfxdtrade Limited" and    Handelfx" (website https://cfxdtrade.com);

    - Aca-Asset Limited (website https://2amltd.com and related page https://accounts.2amltd.com);

    - Mellifluous Group LTD (website https://neoomatic.co and related pages https://webtrader.neoomatic.co and  https://client.neoomatic.cc);

    - Wirexinvest Invest Ltd e Wirex UAB (sito internet www.wirexinvest.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 495.

    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 behaviors, 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 authorized, 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.

      Press release in PDF