Allianz Capital Ltd ( - WebNet Ltd ( - “Cleavesecurities” ( - Game Capital Ads Limited ( e - BC Profit2019 ( - Terratech Ltd ( - Dubai FXM Ltd ( e - “VirtualStocks” ( e - “RoyalFunds” ( e - Lctrade Ltd ( - Arrow Capital Ltd ( e

Consob has ordered the black-out of 16 new websites that offer financial services illegally.

The commission availed itself of the powers resulting from the ‘Decreto Crescita’ (‘Growth Decree’; Law no. 58 of 28 June 2019, article 36, paragraph 2-terdecies), on the basis of which Consob can order internet access providers to block access from Italy to websites offering financial services without the proper authorisation.

The companies and websites are listed below:

  • Allianz Capital Ltd (;
  • WebNet Ltd (;
  • “Cleavesecurities” (;
  • Game Capital Ads Limited ( and;
  • BC Profit2019 (;
  • Terratech Ltd(;
  • Dubai FXM Ltd ( and;
  • “VirtualStocks” ( and;
  • “RoyalFunds” ( and;
  • Lctrade Ltd (;
  • Arrow Capital Ltd ( and

The number of sites blacked out since July last, when Consob got the power to order blackouts, thus rises to 117. The measures with which the aforementioned companies were ordered to terminate the abusive activity can be viewed on the website

The black-out of these websites by internet service providers operating on the Italian market is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

* * *

Consob has ordered the same subjects to cease the violation of Article 18 of Legislative Decree no. 58 of 24 February 1998, pursuant to article 7-octies, letter b) of the same legislative decree:

* * *

Pursuant to Article 99, paragraph 1, letter d) of Legislative Decree no. 58/98, Consob has also banned the offering to the public of investments of a financial nature by Itrade Clubs Corp also through the website (Resolution no. 21196 of 18 December 2019). The activity had already been suspended with Resolution no 21093 of 25 September last (see “Consob informa” no. 33/2019).

(Published in "Consob Informa" no. 45/2019 - 23 December 2019)