Italian regulator orders blocking of 11 websites that illegally offer online trading services

Maria Nikolova

The number of websites blocked thus far under the so-called “Growth Decree” has risen to 279.

Italy’s Companies and Exchange Commission (CONSOB) keeps making use of the powers granted to it under the “Growth Decree”. The latest set of orders mandate the blocking of access from Italian territory to 11 websites that illegally offer investment services.

On the basis of the “Growth Decree” (Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), Consob can order Internet connectivity service providers to ban access from Italy to the websites through which financial services are offered without due authorization.

Below are the 11 websites targeted by the latest set of orders:

  • Dinengo Partners LTD (website https://marketsdock.com, and related pages client.marketsdock.com and status.marketsdock.com);
  • Jean Pierre Technologies LTD (website www.jp.finance, and related pages https://trade.jp.finance and https://cashier.jp.finance);
  • KBS Capital Markets LTD (website www.topcapitalfx.com and the related page www.my.topcapitalfx.com);
  • NorthfintechFX Trading Services Ltd (website www.northfintechfx.co and the related page www.northfintechfx.trade);
  • “Wallwood Broker” (website https://wallwoodbroker.com);
  • “247 First Invest” (website https://247firstinvest.com);
  • Uptos Ltd (website www.uptos.org);
  • Equalizer Ltd (website www.marketfxc.com);
  • “Inter Media Ltd” (website www.cfgtrades.com);
  • “Acquantum AG” (website www.acquantum.eu);
  • “Matrix banco” (website https//matrixbanco.com).

This has taken the number of websites blocked under the “Growth Decree” to 279. The regulator has been issuing such orders since July 2019, when it got the powers to order the blackout of abusive financial intermediaries websites. Prior to that, Consob had to count mainly on warnings in order to raise awareness among the public about illegal financial services providers.

The activities for the blocking of the said websites by the Internet service providers operating in Italy are in progress. For technical reasons it can take a few days to implement them.

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