Italy’s Companies and Exchange Commission (CONSOB) has issued orders for the blocking of access to four unauthorised investment websites.
In issuing the orders, the regulator made use of the powers deriving from the “Growth Decree” (law no. 58 of 28 June 2019, article 36, paragraph 2-terdecies). This legislation authorises Consob to order Internet service providers to block access from Italy to websites through which financial services are offered without the necessary authorization.
The websites targeted by the latest set of orders are:
- “CFDActive” (website https://cfd-active.com and related page https://client.cfd-active.com);
- “Wallstreet Euro Futures LLC” – “WSE” (website https://wallstreeteuro.com and related pages https://panel.wallstreeteuro.com and https://trading.wallstreeteuro.com);
- “Primuscfd.net” (website https://primuscfd.net and related page https://client.primuscfd.net);
- Crypto Services UK LTD (website https://cryptosmarket.com and related page https://client.cryptosmarket.com).
The number of sites blocked by Consob since July 2019, when the Authority was given the power to order the blocking of the websites of abusive financial intermediaries, has thus risen to 1,098. Last week, the regulator ordered the blocking of access to five unauthorised investment websites.
The black-out of these websites by Internet service providers operating in Italy is ongoing. For technical reasons, it can take several days for the blocking to be implemented.
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.
