Italy’s Companies and Exchange Commission (CONSOB) today announced it has ordered the blocking of access to seven websites.

In particular, Consob ordered the blocking of six new websites offering investment services without authorisation and one website (https://savitpay.com) offering financial products to the public without a prospectus.

The websites targeted by the latest orders are:

• “Longsharks Capital” (website https://longsharks.com and related page https://client.longsharks.com);
• “TradeOptimal” (website www.trade-optimal.com and related page https://client.trade-optimal.com);
• “ALLX” (website https://allxcapital.com and related page https://client.allxcapital.com);
• “TF Global Market” (website https://tfglobalmarket.com and related page https://client.tfglobalmarket.com);
• “MEXCFD.com” (website https://mexcfd.com and related page https://client.mexcfd.com);
• “Fil Investment Management” (website https://filinvestmentmanagement.com and related page https://client.filinvestmentmanagement.com);
• “Savitpay” (website https://savitpay.com).

This brings the total number of websites blocked by Consob since July 2019, when the Authority was given the power to order the blocking of websites of abusive financial intermediaries, to 1,562.

The Authority has exercised the powers conferred upon it by the “Growth Decree” (Decreto Crescita) to block the websites of abusive financial intermediaries, as well as the power introduced by Law No. 8 of 28 February 2020, Article 4, paragraph 3-bis, regarding the blocking of websites through which abusive offers are made.

Internet connectivity providers operating in Italy are currently working to block access to the websites. For technical reasons, it may take a few days for the blocking to take effect.