Italy’s Companies and Exchange Commission (CONSOB) has ordered the blocking of three more websites run by entities that offer financial services to Italian investors without having the necessary permission.

The websites targeted by the latest set of orders are:

  • Vibeinv Invest Limited (website www.vibeinv.com);
  • “FXGBP Markets” (website https://fxgbpmarkets.com);
  • “Maxinvesto” (website www.maxinvesto.com and related page https://secure.maxinvesto.com).

In issuing the orders, the regulator has made use of the powers deriving from the “Growth Decree” (law no. 58 of 28 June 2019, article 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block the access from Italy to websites through which financial services are offered without due authorization.

The total number of sites blacked out by Consob has thus risen to 482. The watchdog has been regularly updating the list of blocked websites. In May this year, the number of websites blocked by Consob exceeded 450. Most of these websites offer FX, CFD and cryptocurrency trading services.

The implementation of the blackout of the illegal sites by ISPs operating in Italy is in progress. For technical reasons, the actual blocking may take a few days.