Italy’s Companies and Exchange Commission (CONSOB) has once again made headlines with a decision to block more websites of financial companies offering services in the country. This time the regular points out companies which are offering financial services without a prospectus, that is without detailed information on past performance of investments or financial products offered and the risks involved with trading.
The latest round of orders to order Internet service providers to block access to websites brings the total amount of websites blocked by CONSOB so far to 168, since the regulator assumed new powers under the so-called “Growth Decree”, which allows the regulator to order blocking of access to websites that offer financial services without the necessary authorization.
The websites in question:
- Ankor Group Investment Ltd and IFXBanc Ltd (www.ifxbanc.com);
- Redal LTD and Elit Property Vision Ltd (https://financepro24.com);
- “Terra Finance” (https://terra-finance.co);
- Platiniumfx Ltd (www.platinium-fx.com);
- Elit Property Vision Ltd and FxRoyal Ltd (https://richmondfx.co and https://royal-fx.com);
- Blue Stone Invest Gmbh (www.bluestoneinvest.at).
The regulator has indicated that activities for the blocking of the above-mentioned websites by ISPs are in progress. For technical reasons, it can take a few days to implement them.
We advise all traders and investors to always be cautious when choosing a broker or investment firm. One of the ways you can protect yourself is by using the ‘Check Your Broker’ directory on our official Financial Commission website to find out the status of your broker.