Italy’s Companies and Exchange Commission (CONSOB) continues to issue orders for the blocking of websites that offer financial services, including FX and CFD trading, without having the necessary authorization to do so.

Today, the regulator announced that it had ordered the blackout of five new websites that abusively offer financial services. The websites include those operated by NewFx and ConiusFx.

Below are the websites targeted by the latest blocking orders:

• EGL Sverige AB (website https://eglsverigeab.com and related page https://my.eglsverigeab.com);
• Big Horizons Limited and NewFx Ltd (website www.newfx.co);
• Dzikanta Limited (website https://euromts.io);
• Seabreeze Partners Ltd (website https://maxiplus.trade and related page https://maxiplus.cc);
• “ConiusFx” (website https://coniusfx.com).

In issuing the orders, the regulator made use of the powers deriving from the “Growth Decree” (Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies). This piece of legislation empowers Consob to order Internet service providers to block access from Italy to the websites through which financial services are offered without due 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 blocked, has thus risen to 558. As FX News Group has reported, the number exceeded 550 last week.

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