Warnings - CONSOB AND ITS ACTIVITIES
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Investoomatic Limited (www.investoomatic.com) - Kiqiwk Holdings Intl Limited (www.solutionsmarkets.co) - ADV-Investment (www.adv-investment.com, www2.adv-investment.com)
Consob has ordered the black-out of 4 new websites that offer financial services illegally.
The commission availed itself of the new 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 service providers to block access from Italy to websites offering financial services without the proper authorization.
Below are the sites Consob has ordered to be blacked out:
- Investoomatic Limited (website www.investoomatic.com);
- Kiqiwk Holdings Intl Limited (website www.solutionsmarkets.co);
- "ADV-Investment" (websites www.adv-investment.com and www2.adv-investment.com).
The number of sites 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 349.
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 behaviours, 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 authorised, 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 "Be aware of fraud!", providing useful information to warn investors against financially abusive initiatives.
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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:
- Investoomatic Limited through the website www.investoomatic.com (resolution no. 21627 of 10 December 2020);
- Kiqiwk Holdings Intl Limited through the website www.solutionsmarkets.co (resolution no. 21626 of 10 December 2020);
- Adv-Investment through the websites www.adv-investment.com and www2.adv-investment.com (resolution no. 21628 of 10 December 2020).
(Published in "Consob Informa" no. 45/2020 of 14 December 2020)