Italy’s CONSOB orders blocking of 10 unauthorized investment websites
Italy’s Companies and Exchange Commission (CONSOB) today announces that it has issued orders for the blocking of access to 10 new websites that illegally offer financial services.
The latest orders target the following entities;
- Evergo Ltd (website www.4x-trade.com and page https://client.tradefiled.com);
- Trade Action Ltd (website https://trades-action.com and related page https://accounts.trades-action.com);
- Nab Europe Limited (website www.nabinv.com);
- FX24 Investment Ltd (website www.fx24.live and related page https://my.fx24.live);
- Prim Global Reach Ltd – PrimeATrade Limited – FX Publications Inc. (website https://primaatrade.com and related page https://client.primaatrade.com)
- Fantex (website https://www1.fantex.co, URL https://fantex.co and related page https://webtrader.fantex.co);
- “Cfxdtrade Limited” and Handelfx” (website https://cfxdtrade.com);
- Aca-Asset Limited (website https://2amltd.com and related page https://accounts.2amltd.com);
- Mellifluous Group LTD (website https://neoomatic.co and related pages https://webtrader.neoomatic.co and https://client.neoomatic.cc);
- Wirexinvest Invest Ltd and Wirex UAB (website www.wirexinvest.com).
In issuing the orders, the Authority made use of the powers granted to it under the “Growth Decree” (Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies). This piece of legislation permits Consob to order Internet service providers to block access from Italy to the websites through which financial services are offered without due authorization.
The number of websites blacked out since July 2019, when the “Growth Decree” granted Consob the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 495. In May 2021, the number exceeded 450.
The implementation of the blocking of these websites by Internet service providers operating in Italy is ongoing. For technical reasons, it can take several days for the black-out to come into effect.