Italy’s Companies and Exchange Commission (CONSOB), which regulates financial firms in the country, has announced that it has blocked over 250 websites of unauthorized firms following today’s latest order to block unregulated companies.
The blocking of websites using ISPs (Internet Service Providers) is done by the Italian regulator with the help of the powers granted to it under the so-called “Growth Decree”. Before this piece of legislation came into effect (this happened about a year ago), Consob had to rely mainly on investor warnings in order to protect Italians from scams.
The companies blocked this week include:
- Uptos Ltd (www.uptos.net);
- Swissinv24 Ltd (www.swissinv24h.com);
- One Thousand One Ltd (www.daxcapitals.com);
- “AJ Asset” (www.aj-asset.net);
- Tradixa Ltd (www.tradixa.co).
Prior to this, the regulator also indicated that the following firms were also blocked:
- DevTech Holding (swissglobalpro.com);
- Profx700 Limited (www.profx700.com);
- “Euronovafxasset” (euronovafxasset.com);
- Meg Trans Ltd and Roi Stock Limited (www.raxtrade.com)
- “Trade Idea” and Netbit Services and Solutions Limited (www.tradeidea.co, https://elitetrading.co, secure.elitetrading.co and trading.elitetrading.co websites).
Traders from all countries should be aware and make note of the possible scams associated with the unauthorised firms listed above. If you are not sure about the status of your broker – Check Your Broker today!
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