The Italian Companies and Exchange Commission (CONSOB) keeps making use of the powers granted to it under the so-called “Growth Decree”. Today, the Italian regulator announced that it has issued orders for the blocking of access to six more websites.
These websites belong to entities that do not have the necessary authorization to offer financial services in Italy but, nevertheless, target Italian investors. Such websites typically belong to firms offering FX, CFD, and cryptocurrency trading services.
The six websites targeted by the latest set of CONSOB orders are:
- Broker Major Ltd (www.brokermajor.com);
- Premium Solutions Ltd (https://the-premium-brokers.net and https://trader.secure.the-premium-brokers.net);
- Swissgems Ltd and Media Solutions Ltd (www.cfdnets.com and marketscfd.net);
- ESOS International LTD and Kakedy International S.R.O (www.ainvestments.com and www.ainvestments.biz).
With the addition of these six websites, the “black list” of websites that have been “blacked out” under the “Growth Decree” has growth to include 306 entries. As FX News Group has reported, CONSOB ordered the blocking of access to five other websites last week.
Let’s recall that the “Growth Decree” came into effect in the end of June 2019. Effective July 2019, the regulator started issuing such blocking orders. The piece of legislation allowed CONSOB to order local Internet service providers to block access to unlawful financial services websites from the territory of Italy.
Before the “Growth Decree” became effective, the Italian regulator had to rely on warnings mostly.
The activities for implementing the blackout of the above-mentioned websites are currently in progress. For technical reasons it can take a few days to actually block a website.