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Abusive financial services: Consob blacks out 4 abusive websites (Press Release of 25 May 2023)

Consob has ordered the black-out of 4 new websites that offer financial services/financial products illegally: 3 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 "Decreto crescita" ("Growth Decree" Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), relating to the black-out 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 black-out of the website through which the illegal offer is carried out.

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

- "Prime Markets" (website https://primemarkets.co.com and page https://my.primemarkets.co.com);

- "Fintech Market" (website www.fintechmarket.consulting and related page https://cfd.fintechmarket.consulting);

- Nadex CFD Limited (website www.nadexcfd.com and related pages https://my.nadexcfd.com and https://webtrader.nadexcfd.com);

- Luxem Capital, Inc. (website https://luxemcapital.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 898.

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