Italy’s Companies and Exchange Commission (CONSOB) has issued orders for the blocking of access to four illegal investment websites.

The websites targeted by the latest set of orders are:

• “Softech Trades” (website www.softechtrades.com and related page https://client.softechtrades.com);
• “Fxlivestrade” (website www.fxlivestrade.com);
• “Baer-group” (website https://baer-group.com and page https://webtrader.baer-group.cc);
• “Ikon CFD” (website www.ikoncfd-24.com and related pages https://my.ikoncfd-24.com and https://webtrader.ikoncfd-24.com ).

In issuing the orders, the regulator 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), relating to the black-out of the sites of abusive financial intermediaries. The regulator has issued orders for the blocking of 911 unauthorized websites ever since.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the blocking to be implemented.