Warnings - CONSOB AND ITS ACTIVITIES
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Tradebaionics (www.tradebaionics.io) - Broker Capitals Limited (https://finexstock.eu, page https://platform.finexstock.eu) - Agm Markets (https://agmmarkets.net, page https://account.agmmarkets.net) - Vigo and CO Llc (www.galantrade.co) - FiboTraders (www.fibotraders.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:
- Tradebaionics (website www.tradebaionics.io).
- Broker Capitals Limited (website https://finexstock.eu and its page https://platform.finexstock.eu).
- Agm Markets (website https://agmmarkets.net and its page https://account.agmmarkets.net);
- Vigo and CO Llc (website www.galantrade.co);
- FiboTraders (website www.fibotraders.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 713.
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 “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:
- Tradebaionics through the website www.tradebaionics.io (resolution no. 22357 of 9 June 2022);
- Broker Capitals Limited through the website https://finexstock.eu and its page https://platform.finexstock.eu (resolution no. 22356 of 9 June 2022);
- Agm Markets through the website https://agmmarkets.net and its pagehttps://account.agmmarkets.net) (resolution no. 22353 of 9 June 2022);
- Vigo and CO Llc through the website www.galantrade.co (resolution no. 22355 of 9 June 2022);
- FiboTraders through the website www.fibotraders.com (resolution no. 22354 of 9 June 2022).
(Published in "Consob Informa" no. 20/2022 - 13 June 2022)