Italy’s Consob adds six entries to list of blocked investment websites
Italy’s Companies and Exchange Commission (CONSOB) today announced the addition of more entries to the list of websites that will be “blacked out” due to offering of unauthorized investment services to Italian customers.
This week, the regulator has ordered the blocking of access to the following six websites:
- 4ex7 Ltd (www.4ex7.live);
- “Octaviotradefx” and “Galore Pro” (https://octaviotradefx.com);
- Itm Solutions LLC (https://galore.pro and https://trading.galore.pro);
- “Finanza-Invest” (www.finanza-invest.com);
- “Billion Forex Ltd” (https://billionforex.com);
- HBCMarket Ltd and Zentrale Zahlstelle Ltd (www.hbc-marketsfx.com).
Last week, the regulator issued blocking orders for five websites. Since Consob got the power to “black out” unauthorized investment websites, the regulator has issued orders for the blocking of 374 websites. Most of them offer investment in cryptocurrencies, Forex and CFDs.
Today, Consob issued a specific warning about the advertising campaigns which promise significant (often unlikely) financial returns in exchange of the proposed purchase of shares of well-known international technological and commercial companies, of renowned football clubs and/or cryptocurrencies. These initiatives could be aimed at the acquisition of sums of money or users’ personal data, the regulator said.
Consob draws investors’ attention to the importance of adopting the greatest diligence in order to make informed investment choices, and adopting common sense behaviors, 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 authorized, and, for offers of financial products, that a prospectus has been published.