Number of unauthorized investment websites blocked in Italy reaches 720
Italy’s Companies and Exchange Commission (CONSOB) has blocked further seven illegal investment websites, taking the total to 720.
Consob explains that five of these seven websites offer illegal financial intermediation and two sites offer financial products without a prospectus.
In issuing the orders, the Authority made use of the powers deriving from the “growth decree” (law no. 58 of 28 June 2019, article 36, paragraph 2-terdecies), relating to the blackout of the sites of abusive financial intermediaries, as well as the power introduced by the law n. 8 of February 28, 2020, article 4, paragraph 3-bis, regarding the blocking of access to the sites through which abusive offers are made.
The latest Consob orders target the following entities:
- Tetris Group Ltd (site https://battletrade.io)
- Eudaimon Consulting LLC (site https://aceinvest.co)
- “FTI Finance” (website www.ftifinance.com)
- FX Publications, INC and Dlfinindex Ltd (website https://dolfinindex.com and related page https://client.dolfinindex.com)
- Promarketing Ltd (site https://greencapitalz.com and related page https://platform.greencapitalz.com)
- Global Success Management Inc., Be Free Ltd, Imperial System Ltd EOOD and Ivory Dunes Limited (websites https://globalsuccessmanagement.com and www.gig-os.com).
Consob got the powers to block unauthorized investment websites in July 2019. The implementation of the blocking by local Internet service providers is ongoing. Due to technical reasons, the actual blackout may take a few days to get into effect.