Warnings - CONSOB AND ITS ACTIVITIES
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Infinity4X (www.infinity4x.com) - Empire Trading and Techsync Management Consultancies Llc (www.empiretrading.net, page https://live.empiretrading.net) - EqualityFin (https://equalityfin.io, page https://client.equalityfin.io) - Fincloud (https://fnincloud.live and https://fincloud.center, page https://webtrader.fincloud.live) - Axa Business Solution Ltd (https://lionfxm.com, pages https://portal.lionfxm.com)
Consob has ordered the black-out of 6 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:
- Infinity4X (website www.infinity4x.com);
- Empire Trading and Techsync Management Consultancies Llc (website www.empiretrading.net and its page https://live.empiretrading.net);
- EqualityFin (website https://equalityfin.io and its page https://client.equalityfin.io);
- Fincloud (websites https://fnincloud.live and https://fincloud.center and its page https://webtrader.fincloud.live);
- Axa Business Solution Ltd (website https://lionfxm.com and its page https://portal.lionfxm.com).
The number of sites blacked out since July last, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 663.
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 one’s savings: these include, for websites that offer financial services, checking in advance that the operator with whom you 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 “Watch for scams!”, 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:
- Infinity4X through the website www.infinity4x.com (resolution no. 22276 of 24 March 2022);
- Empire Trading and Techsync Management Consultancies Llc through the website www.empiretrading.net and its page https://live.empiretrading.net (resolution no. 22275 of 24 March 2022);
- EqualityFin through the website https://equalityfin.io and its page https://client.equalityfin.io (resolution no. 22279 of 24 March 2022);
- Fincloud through the websites https://fnincloud.live and https://fincloud.center and its page https.//webtrader.fincloud.live (resolution no. 22277 of 24 March 2022);
- Axa Business Solution Ltd through the website https://lionfxm.com and its page https://portal.lionfxm.com (resolution no. 22278 of 24 March 2022).
(Published in "Consob Informa" no. 11/2022 - 28 March 2022)