"FSCS.UK Limited" (https://fscs.uk) - NewTraders Holding Ltd (www.toltechfx.co) - Zurich Invests Ltd e ZH Companies BNK Ltd (www.zurichinvests.com) - "TradeFCX" e "Fxstarpro" (https://tradefcx.com) - "Fxstarpro"/Fxstarpro LTD (https://fxstarpro.com)
Consob has ordered the black-out of 5 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:
- "FSCS.UK Limited" (website https://fscs.uk);
- NewTraders Holding Ltd (website www.toltechfx.co);
- Zurich Invests Ltd e ZH Companies BNK Ltd (website www.zurichinvests.com);
- "TradeFCX" and "Fxstarpro" (website https://tradefcx.com);
- "Fxstarpro"/Fxstarpro LTD (website https://fxstarpro.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 396.
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 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:
Fscs.Uk Limited through the website https://fscs.uk (resolution no. 21742 of 4 March 2021);
NewTraders Holding Ltd through the website www.toltechfx.co (resolution no. 21745 of 4 March 2021);
Zurich Invests Ltd and Zh Companies BNK Ltd through the website www.zurichinvests.com (resolution no. 21746 of 4 March 2021);
TradeFCX and Fxstarpro through the website https://tradefcx.com (resolution no. 21744 of 4 March 2021);
Fxstarpro/Fxstarpro Ltd through the website https://fxstarpro.com (resolution no. 21743 of 4 March 2021).
(Published in "Consob Informa" no. 9/2021 - 8 March 2021)