Italy’s Companies and Exchange Commission (CONSOB) has ordered the blocking of access to four new websites that offer financial services illegally.

The Authority availed itself of the powers deriving from the “Decreto crescita” (“Growth Decree”; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.

The websites targeted by the latest orders are:

• “Aquillafx” (website https://aquillafx.com and related page https://client.aquillafx.com);
• “IBSasset” (website www.ibsasset.org)
• “Wallstreet Euro Futures LLC” “WSE” (website www.wallstreeteuro.io and related pages https://panel.wallstreeteuro.io and https://trading.wallstreeteuro.io);
• “FTSEBlend” (website https://ftseblend.com and related pages https://client.ftseblend.com, https://webtrader.ftseblend.com).

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blocked, has thus risen to 1144. Last week, the regulator ordered the blocking of access to several unauthorized websites.

The measures adopted by Consob can be consulted on the website www.consob.it. The implementation of the blocking of these websites is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors’ attention to the importance of adopting the greatest diligence in order to make informed investment choices. For websites that offer financial services, it is important to check in advance that the operator with whom you are investing is authorized, and, for offers of financial products, that a prospectus has been published.