Warnings


The National Commission for Companies and the Stock Exchange, recording a significant increase in the number of reports relating to the self-styled credit recovery companies that, even falsely stating to be authorised by CONSOB, offer potential customers the possibility of obtaining, for a fee, and the refund of sums of money already invested through entities illegally operating as financial intermediation companies, points out that no entity is authorised by CONSOB to undertake credit recovery on behalf of investors who have suffered financial losses by operating with companies not authorised to provide investment services and activities.  

In this regard, investors are advised to be very careful considering that these credit recovery schemes and similar activities could conceal deceptive operations aimed at taking possession of any money conferred.

(Published on 15 March 2019)

Consob warning for investor protection on a so-called "City Group Italy banking group" which proposes to recover investor credits lost through trading online

Consob reports that the so-called "City Group Italy banking group", by sending e-mail messages, fraudulently using the logo and the name of the CONSOB and an authorized financial intermediary, claims to has been mandated by CONSOB itself to apply the legislation of an unspecified "Investor Compensation Fund" to recover the investments lost through online trading sites.

Please note that the content of these messages is false and misleading.

CONSOB, which has never authorized such initiatives, believes that behind these activities lies the intention to defraud investors.

It is therefore recommended not to adhere absolutely to these proposals and to view the section of the CONSOB institutional website called "Occhio alle truffe!" and, in particular, the previous Consob communications for investor prottection  regarding the phenomena of self-styled credit recovery companies and the cc.dd. "clone companies".

(Published on 3 July 2019)