Warnings from CONSOB

04.05.2020

Itaalia

The Commissione Nazionale per le Società e la Borsa (CONSOB) has ordered the black-out of 5 new websites that offer financial services illegally.

The commission availed itself of the 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 access providers to block access from Italy to websites offering financial services without the proper authorisation.

The companies and websites are listed below:

   Finance Activity Group (website www.capo-invest.com);

   FXTrading Corp (website https://fxtradingcorp.trade);

   Tradefxzone Ltd and SolutionsCM Ltd (website https://tradefxzone.com);

   ForTradersFx Ltd (website www.fortraders-fx.com);

   OGAM Ltd (website www.ogamfx.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 189.

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 their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorised, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that there is a section on the homepage of its website entitled "Be aware of fraud!" which provides useful information to warn investors against financially abusive initiatives.