Press releases 2019

Press Releases

Press releases 2019

Asset Publisher

Press Release 27^th September 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.

The opportunity was given by the conference on "Quality of the audit: which role for the Audit Committee?", held this morning at Consob in Rome. The introductory speech was given by Paolo Ciocca, Commissioner of Consob. Then followed the interventions - among the others - of the representatives of D.G. FISMA of the European Commission and of PCAOAB, the U.S. Authority for the supervision of auditors, with which Consob has collaborating ties.

"The target of today's meeting is to raise the quality of financial information, a pillar of trust for all those who operate on the market, both investors and savers," Ciocca remarked at the end of the meeting. "The endless dialogue between Audit Committees and auditors – the Commissioner added - is a prerequisite for a more effective action of the supervisory authorities, all of which will benefit from the converging behaviours of the different subjects, each in its own role, for the common goal of public interest".

Within the conference were presented the results of a survey launched last winter by the CEAOB (Committee of European Auditing Oversight Bodies), the European body coordinating the supervisory authorities on audit activities, for the purpose of facilitating the national authorities in their monitoring of the activities of the internal control bodies.

Consob also provided a framework of audit quality indicators that, on the basis of international experience, can be useful for improving the culture of audit, through the comparison between Audit Committees and auditors.

Press release PDF

500 events all over italy for the second edition of the financial education month (october 2019) (Press Release of Committee for the planning and coordination of financial education activities - Edufin Committee - of September 23th, 2019)

From October 1^st to 31^st, around 500 meetings will be held in all the Italian regions on the occasion of the Financial Education Month. The official calendar of the event was presented today at the Piccolo Teatro in Milan, where this evening will be staged a lesson-show reserved to high school students.

The 50% increase in the participation and the variety of proposals presented for this second edition of the Month both confirm the success of the initiative.

The Financial Education Month, promoted by the Committee for the planning and coordination of financial education activities (Edufin Committee) directed by Prof. Annamaria Lusardi, includes seminars, lessons, games, workshops and free shows. The goal is to offer opportunities to learn, discuss and understand how to manage and program personal and family financial resources, exploring issues like savings, investment, insurance and social security.

The Month will open with the "World Investor Week", with the debut of the first National Day on Insurance Education (October 9^th) and will close with the World Savings Day (October 31^st).

A novelty is given by the organization of various events concerning social security issues, mainly promoted by the various endowments ("Casse") of professional orders and pensions funds.

"A lot of information is needed about the social security issues - explains the director -. Important decisions have to be taken by the young people who want to have a peaceful future guaranteed at the end of their professional life. The Committee, for the 2019 edition, has decided to focus on young people issues, because they are the investment for our future, even if the Month is aimed at everyone: from children to women, from families to small entrepreneurs, even to the third age. This year we will start from Milan, the city of finance in Italy, and we have therefore chosen an historic and extraordinary theatre like the Piccolo Teatro. We are now testing together how we can talk about finance in a simple and even fun way with a show both aiming at students and meetings the languages of theater and cinema".

The 2019 calendar, which can be consulted at http://www.quellocheconta.gov.it/calendario2019 is the starting point for institutions, foundations, consumer associations, anti-usury and non-profit organizations, schools, universities, companies, orders and associations, professionals, members of the banking, insurance and social security world.

#Ottobreedufin2019 is even more social, because it will be possible to be informed about all the public events of the calendar of Financial Education 2019 also through the Facebook page @ITAedufin which, a week after its debut, has already exceeded 6,000 likes. It is one additional tool for meeting and talking with citizens, added to the portal www.quellocheconta.gov.it , to the YouTube channel and to the Twitter accounts @ITAedufin and Instagram @itaedufin. Everyone is invited to scroll through the calendar to choose the most liked event and participate.

Press Release PDF

Press Release 20^th September 2019

Consob has ordered to internet providers to block the access to 3 internet websites offering financial services without the required authorizations.

Consob made use of the new powers recently attributed to the Authority by the "growth decree" (law no. 58 of 28 June 2019, article 36, paragraph 2-terdecies), by which Consob can now order to the providers of internet connectivity services to inhibit access from Italy to internet websites offering financial services without proper authorization.

Below is the list of companies and sites:
- Globalix Ltd (www.globalix.com);
- Lion Finance Ltd (cfd2fx.com);
- Next Trade Ltd (www.olympusmarkets.com).
The aforementioned measures have been published on the www.consob.it website.

The activities to implement the blocking of the unauthorized websites, carried on by the internet connectivity providers operating on the Italian market, are underway. Due to technical reasons, they will be effective in a few days.

Press Release PDF

Be aware of fraud! Consob orders the blocking out of the access to 22 unauthorized websites offering financial services (Press Release of September 19^th, 2019)

Consob has ordered to internet providers to block the access to 22 internet websites offering financial services without the required authorizations.

Consob made use of the new powers recently attributed to the Authority by the "growth decree" (law no. 58 of 28 June 2019, article 36, paragraph 2-terdecies), by which Consob can now order to the providers of internet connectivity services to block the access from Italy to internet websites offering financial services without authorizations.

This is the list of the companies and websites that cannot be reached anymore through the internet:
- WebNet Ltd e 4COM Network Srl (www.2dots.com);
- One Thousand One Ltd (dax1001.com);
- Herdos (https://herdos.com);
- Lancelot Equity Ltd (https://gocapitalfx.com e https://gocapital123.com);
- TQR Trade (https://it.tqrtrade.com);
- Sucaba Enterprise Ltd (www.ptbanc.com);
- CMP24 Ltd (www.cmp24.com);
- Capital Tech Limited (www.pbncapital.com);
- PayPeq Holdings OÜ (www.investus.fm);
- Madar Partners Ltd (www.axeinvest.com);
- Swissinv24 Ltd (https://swissinv24.com);
- Codexfx Ltd (www.codexfx.com);
- A Corp Ltd (www.londonfuturemarket.com);
- Apsilon Ltd (grandfxpro.com);
- Dubai FXM Ltd (www.dubaifxm.com e www.dubaifxm24.com);
- Light Media Ltd (https://it.wincapitalpro.com);
- Global Es Ltd e Sonartech OÜ (www.capitalfmi.com);
- Brokerz Ltd e All Media Eood (www.brokerz.com);
- London Capital Ltd (www.londoncapitaltrade.com);
- Pmt247 Ltd (www.pmt247.com).
The aforementioned measures have been published on the www.consob.it website.

The activities to implement the blocking of the aforementioned unauthorized websites, carried on by the internet connectivity providers operating on the Italian market, are in progress and they should be effective soon.

Press release PDF

Mauro Nori appointed as General Manager of Consob (Press Release of September 4^th, 2019)

The Commission has appointed yesterday Mauro Nori new General Director of Consob.

Graduated in Law at the University of Florence, with post-university studies, dr. Nori has achieved significant experience in the public and private sector, covering, among other things, the position of Director General of INPS from 2009 to 2015 as well as Deputy Chief of Cabinet at the Ministry of Economy and Finance. He is currently a Councilor at the Court of Auditors.

Press release PDF

Press Release 30^th June 2019

Consob exercised for the first time the new supervisory powers it has received to enforce the fight against unauthorized financial activities on the web, blocking four websites which had been offering investment services without authorization.

The blocked websites are the following:
- https://www.allglobalmarkets.com
- https://marketsxchange.com
- https://sigmafortrade.com
- https://www.swisscfd.com
It is the first application of the new legislative rules which have been introduced in Italy by the recent "decree for growth" (Law n. 58 of June 28, 2019), by which Consob, the regulatory and supervisory Authority on financial markets, has been granted the power to order to the TLC networks operators the blocking of the unauthorized websites, preventing at once their access by all the users on Italian territory.

The regulatory framework has been so strengthened accordingly and the tools against financial abuses have been made more effective.

Until 2017 Consob has been publishing "warnings" concerning the risks connected with the services offered by unauthorized operators, which were only addressed to the general public. Since 2018, however, with the application of the new European regulation on the provision of investment services (Mifid2), the instruments given to Consob have been significantly enforced by the attribution of the new power to order the termination of the infringement to the unauthorized operators. Accordingly, Consob had only the power of asking the cancellation of the Italian version of the abusive sites to the host providers. With the current new power to order to the TLC networks managers the blocking of the websites, the new Italian legislation, still in its path through a full implementation, marks a significant step forward.

Press release PDF

Financial Education Month is back: registrations for the October 2019 edition are open at quellocheconta.gov.it (Press Release of June 12^th, 2019)

After the first edition, with the participation of 108 organizations (197 subjects involved overall, including public and private institutions and organizations), and more than 350 events in 120 cities throughout Italy, the Financial Education Month returns from 1 to 31 October 2019. It is promoted by the Committee for the planning and coordination of financial education activities, with the participation of Consob.

The programme of the Month includes a full calendar of events, starting in the first week of October with the "World Investor Week" - the international event dedicated to asset management - to continue with cultural events, information seminars, shows, play days and training on financial education as well as insurance and social security issues.

Projects and initiatives can be submitted to the Committee with the filling out of the online form at www.quellocheconta.gov.it/ottobreedufin from today June 12 until 13 September next.

It will be granted to the participants to the event the use of the official logo of the Month and all the participants will be given evidence in a full national-scale promotion of the event itself, so as to guarantee to the organizers of the various initiatives greater visibility as well as to promote the effectiveness of the undertaken actions through coordination with the other participating subjects.

For all the partners of the Month there will also be available a chat and interactive tools as to maximize communication on the various events as well as to identify all the subjects committed in Italy on these topics, so as to favour the creation of synergies.

The Committee encourages the participation, by the submission of their candidacy, of associations, institutions, companies, universities and research centers, schools, foundations, public administrations and any organization that wants to be involved in the field of financial education with quality events, both non-profit and free for all the participants. All the initiatives having the objective of the increase of basic knowledge on insurance, social security and management and planning of personal and family financial resources will be accepted. All they represent essential knowledge for the serenity of today and the future.

Press release PDF

Financial education for small businesses: Consob-FederTerziario cooperation project is underway (Press Release of May 13^th, May 2019)

The cooperation project between Consob and FederTerziario for financial education of small business was presented today in a conference, set at the Chamber of Deputies.

The project aims to the promotion and to the spreading of financial culture in the fabric of small business throughout the Italian national territory. Consob will offer a team ad hoc of technicians, for the purpose of a wider dissemination of the training offer with the organization of on-site meetings in cooperation with the FederTerziario network and IT platform.

The initiative aims in particular to the broadening of information about to the opportunities available for small businesses for accessing the capital market as well as collecting fresh financial resources for the support of both growth and innovation through complementary channels with respect to bank credit ones, like equity crowdfunding, mini-bonds, private equity. At the same time, the initiative aims to the strengthening, by financial education leverage of the self-protection measures against frauds and it aims, too, to make known the out-of-court resolution available mechanisms with the Arbitrator for financial disputes (ACF) for disputes between savers, businesses and intermediaries.

Press release PDF

Public procurements: ANAC and IVASS adhere to the MoU between the Bank of Italy, Consob and the Antitrust Authority (Press Release of May 9^th, 2019)

The National Anti-Corruption Authority (ANAC) and the Institute for Insurance Supervision (IVASS) have adhered to the Memorandum of Understanding (MoU) signed in November 2018 between the Bank of Italy, the National Commission for Companies and the Stock Exchange (CONSOB) and the Italian Antitrust Authority (AGCM) for the shared management of joint procurement procedures, according to the regulation pursuant to Legislative Decree 18 April 2016, n. 50.

The MoU specifies the coordination procedures between the undersigned Authorities in order to identify joint strategies for the procurement of works, services and supplies and it is functional to the attainment of cost savings.

To this end, a technical table will be set up to provide guidance, coordination and supervision references.

The Memorandum of Understanding establishes a best practice in the national framework and lays the foundations for raising the quality of public commissioning, also in terms of transparency and anti-corruption.

Press release PDF

Memorandum of Understandings (MoU) between Consob and the Public Prosecutor's Office of Rome - Information sharing and cooperation for the strengthening of mutual investigation activities - The agreement focused on fighting obstacles to supervision and financial unauthorized activities (Press release of April 17^th, 2019)

Consob and the Public Prosecutor's Office of Rome have signed today a Memorandum of Understanding (MoU) aimed at strengthening their respective investigation activities through a shared procedure for mutual exchange of both information and collaboration requests.

The MoU identifies the ways in which the two Authorities will be both able to ask for as well to exchange data, news and cooperation on subjects of mutual competence, within the current regulatory framework.

At the core of the MoU there are the activities needed for counteracting both the obstruction of Consob's supervisory activities and financial unauthorized activities as well. In both cases the Public Prosecutor's Office of Rome is often the judicial authority of reference to judge about possibly relevant activities for criminal laws.

The mutual cooperation mechanism also involves all the cases of market abuse in which the jurisdiction is rooted in the Court of Rome.

Consob and the Public Prosecutor's Office of Rome have also agreed both to examine all the issues of mutual interest during specific seminar sessions and to hold periodic meetings for mutually testing their respective cooperation mechanisms.

Press release PDF

Savona takes the office the Chairman of Consob - Press release of March 20^th, 2019

Professor Paolo Savona took today the office of the Chairman of Consob.

The handover between the deputy Chairman, Anna Genovese, and the newly appointed one took place during a meeting of the Commission, held this morning in Rome.

The Commission is therefore in its full composition of five members: the new Chairman, Paolo Savona and, in addition, the Commissioners Anna Genovese, the member of the board with the greatest seniority in the Institute, who carried out the functions of deputy Chairman after September 14, Giuseppe Maria Berruti, Carmine Di Noia and Paolo Ciocca.

Be aware of fraud! - Consob warns against alleged offers of assistance for the recovery of credits originating from losses due to financial fraud - Press Release of March 15^th, 2019

Warning of Consob against the risks related to the alleged offers of legal assistance delivered to unaware investors who suffered a previous financial fraud. These same investors are frequently delivered proposals of credit recovery initiatives, against the payment of a fee, because of the losses due to previous financial fraud.

Such is the core of the Warning today published by Consob, the supervisory authority for the Italian financial product market, on its website.

This alleged credit recovery activity is often led by people acting in connection to companies whose brands often recall the names of well-known financial institutions. Their target looks like to further mislead the investors who have already been victims of financial fraud. In addition, the logo of Consob is often and improperly used by these unauthorized subjects in their attempt to be endorsed as qualified operators having a legal authorization.

The informative framework currently detected by Consob in its supervisory activity leads to further considerations: that the advocates of these illegal initiatives often seem currently as having a deep acquaintance with the victims of financial scams by abusive intermediaries and that the offers of assistance for debt collection themselves are, in fact, in many cases linked to the same subjects performing the previous fraud.

Consob is warning investors about all these activities that might shape an unlawful behavior, even aiming at perpetrating a double fraud.

"Be aware of fraud!"- Fighting the offer of unauthorized financial services - From January to February 2019 Consob carried out twenty two supervisory measures - Pacific Ocean/Caribbean Islands are the locations chosen by the unauthorized companies - Press release of 11^st March 2019

The Marshall Islands atolls in the Pacific Ocean, as well as Saint Vincent and the Grenadines in the Caribbean, and the British Virgin Islands are the locations chosen by the companies which, in January-February of this year, were subject to the measures issued by Consob in its prevention effort of financial frauds carried out on the web.

In the first two months of 2019 Consob adopted 22 bans against 34 websites and 3 Facebook pages. The banned companies, in fact, abusively promoted through these websites - without the necessary authorization - offers of financial products or the provision of investment services. In most of these cases, the companies subject to Consob measures had their legal offices in tax havens with exotic locations, like the Pacific or the Caribbean.

The enforcement actions are meant to fight the financial frauds suffered by investors, some of whom received proposals of expected yearly earnings up to 120 per cent.

A synoptic table of the actions carried out in the considered period is enclosed below.

Consob invites investors to carry out a continuous, attentive and preemptive check of the authorized companies on its website www.consob.it. Investors are also encouraged to be fully aware if the offers are authorized by Consob, or not.

Just click on the "Be aware of fraud!" link on Consob website to make a simple and quick check of the information needed. Investors should be aware that unauthorized offers often hide a fraud.

Publications of January and February 2019

Publication date	Decision n°	Website	Abusive case	Company	Location
14/01/2019	20773 of 9/01/19	https://www.Bv1.club e pagina facebook "Bv1 Club"	Offer of financial products	BV1 Club Business Development SAS	Colombia
21/01/2019	20779 of 16/01/19	www.fxginvest.com	Provision of investment services	Nordic Pearl Ltd e Grande Service Ltd	Bulgaria and Marshall Islands
28/01/2019	20783 of 22/01/19	www.amicopolis.com	Offer of financial products	Amicopolis Limited	United Kingdom
28/01/2019	20784 of 22/01/19	www.toroption.co	Provision of investment services	Smart Choice Zone LP	United Kingdom
28/01/2019	20785 of 22/01/19	www.fxbreeze.com	Provision of investment services	"FX Breeze"
28/01/2019	20786 of 22/01/19	www.togacoin.com	Offer of financial products	Togacoin Ltd	United Kingdom
4/02/2019	20799 of 31/01/19	www.fxnobel.com www.fxnobels.io	Provision of investment services	Glencoe Partners Ltd	Marshall Islands
4/02/2019	20798 of 31/01/19	www.fxmarketspro.io	Provision of investment services	Velmon Enterprise Ltd	Marshall Islands
11/02/2019	20806 of 6/02/19	www.procapitalfx.com	Provision of investment services	Game Capital Ltd	Saint Vincent and the Grenadines
		www.it.probtctrade.com
		www.it.btcglobefx.com
		www.it.firstfxclub.com
		www.it.protradefx.com
		www.it.smartbtcfx.com
		www.it.capitalfxclub.com
		www.it.capitalbtcfx.com
		www.it.cryptoclubfx.com
		www.it.gamebtcfx.com
		www.it.360smartfx.com
		www.smartpr ofx.com
11/02/2019	20807 of 7/02/19	www.opzionefinanza.com	Provision of investment services	Opzione Finanza di Antonio Vaccaro	Motecchio Maggiore (VI)
11/02/2019	20805 of 6/02/19	www.rivoluzionalatuavitadesso.it Facebook page "rivoluzionalatuavita"	Provision of investment services	Progetcom srl	Catania (CT)
18/02/2019	20816 of 14/02/19	www.goldmancfd.com	Provision of investment services	GoldmanCFD Ltd	Marshall Islands Bulgaria
18/02/2019	20817 of 14/02/19	www.wisebanc.com	Provision of investment services	Orion Service EOOD e TLC Consulting Ltd	Bulgaria Marshall Islands
18/02/2019	20818 of 14/02/19	www.it.firstbtcfx.com	Provision of investment services	First Global (UK) Ltd	United Kingdom
18/02/2019	20819 of 14/02/19	www.wincapitalpro.com	Provision of investment services	Light Media Ltd	Marshall Islands United Kingdom
18/02/2019	20812 of 14/02/19	www.skyway.capital www.new.skayway.capital	Offerta di strumenti finanziari	Sky Way Capital Inc	British Virgin Islands
18/02/2019	20813 of 14/02/19	www.eaglebittradeweb.com	Offer of financial products	Eagle Bit Trade
18/02/2019	20814 of 14/02/19	www.crypt oforce.com	Offer of financial products	Crypt oforce Ltd	Belize
18/02/2019	20815 of 14/02/19	Facebook profile of Alessandro Brizzi	Offer of financial products	Alessandro Brizzi	Bovalino (RC)
25/02/2019	20825 of 20/02/19	www.fsmsmart.com	Provision of investment services	FSM Smart Ltd	Marshall Islands
25/02/2019	20826 of 20/02/19	www.dax1001.com	Provision of investment services	One Thousand One Ltd	Marshall Islands
25/02/2019	20827 of 20/02/19	www.capital4bank.com	Provision of investment services	Capital Com Investment Ltd	Saint Vincent and The Grenadines

Intervention measures on the offering of binary options and contracts for difference to retail investors (Press release January 7th, 2019)

CONSOB has launched a public consultation, which has as its object the intervention measures that CONSOB intends to adopt, pursuant to Article 42 of the MiFIR, on the offering of binary options and contracts for difference to retail investors.

The objective is to introduce in Italy on a permanent basis the same intervention measures adopted by ESMA on this matter, with the support also of CONSOB, and which consist in the prohibition of marketing, distribution and sale of binary options to retail investors and restrictions on the marketing, distribution and sale of Contracts for Difference to retail investors.

The consultation will end on January 22, 2019.

The text of the consultation is available on the www.consob.it website, in the 'Regulation - Consultations' section.

Press release in PDF format

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