Italy’s CONSOB orders blocking of access to more unauthorized brokerage websites
Italy’s Companies and Exchange Commission (CONSOB) has ordered the black-out of four new websites that offer financial services illegally.
The websites targeted by the latest Consob orders are:
- Ethereal Group LLC (website https://fintegral.fund);
- “Alltradingeu” (website www.alltradingeu.com and related page https://client.alltradingeu.com);
- FinanceCapitalFX Cyprus Ltd (website https://financecapitalfx.com and related pages https://client.financecapitalfx.com and https://webtrader.financecapitalfx.com);
- “MFCapitalFX” (website www.mfcapitalfx.com and related page https://client.mfcapitalfx.com).
In issuing the orders, 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 number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 805. Earlier in November, the regulator issued orders for the blocking of access to illegal websites such as MTinvesting and NBIMarkets.
The black-out of these websites by Internet service providers operating in Italy is ongoing. For technical reasons, it can take several days for the blocking to be implemented.