The Italian Companies and Exchange Commission (CONSOB) has posted its weekly update on its actions against unauthorized investment websites.

The latest update says Consob has ordered the blackout of 6 new websites, which illegally offer financial services. These websites are:

  • 4EX7 Ltd (www.4ex7.net);
  • HanabishiPartners Ltd (https://investactive.io, https://investactive.cc and https://status.investactive.cc);
  • Elevate4x Ltd (www.elevate4x.net)
  • DBFX Limited (www.dbfxtrades.com);
  • Golden Dawn (IT) (https://www.ctxholdings.com).

The new additions take the number of websites that are blocked as per orders issued by the regulator to 312. Last week, Consob issued orders for the blocking of six other websites.

By issuing these orders, the regulator made use of the powers granted to it under the so-called “Growth Decree” (Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies). This piece of legislation allows Consob to order Internet service providers to block access from Italy to the websites through which financial services are offered without due authorization.

Prior to this law coming into effect, the regulator had to count mostly on warnings to protect investors from illegal online brokers.

The activities for the blackout of the said websites by the Internet connectivity providers operating on the Italian territory are in progress. For technical reasons it can take a few days to implement the blocking.