Abstract：Italy Regulator Companies and Exchange Commission (CONSOB) has ordered Internet service providers to block 5 abusive websites from Italy to offer financial services without the proper authorization.
Italy Regulator Companies and Exchange Commission (CONSOB) has ordered Internet service providers to block 5 abusive websites from Italy to offer financial services without the proper authorization.
Following are the websites Consob has ordered to be blacked out:
“Stockplus-it.com” (website https://stockplus-it.com and related page https://client.stockplus-it.com);
“Alfacapitalmarketsltd” (website https://alfacapitalmarketsltd.com and related page https://account.alfacapitalmarketsltd.com);
“Fintech Market” (website https://fintechmarket-consulting.com and related page https://cfd.fintechmarket-consulting.com);
“AfexEU” (website https://afexeu.com and related pages https://client.afexeu.com and https://trade.afexeu.com);
“Aiontrader” (website https://aiontrader.com and related pages https://client.aiontrader.com and https://client1.aiontrader.com)
To take this action, The Authority used the powers deriving from the “Decreto crescita” (“Growth Decree”; Law no. 58 of 28 June 2019, Article no. 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.
The number of websites 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 940.
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 behaviors, 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 authorized, and, for offers of financial products, that a prospectus has been published.
The Commissione Nazionale per le Società e la Borsa (CONSOB) is the public authority responsible for regulating the Italian financial markets. The Authority ensures
transparency and correct behaviour by financial market participants;
disclosure of complete and accurate information to the investing public by listed companies;
accuracy of the facts represented in the prospectuses related to offerings of transferable securities to the investing public;
compliance with regulations by auditors entered in the Special Register.
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