Italian regulator orders blocking of six websites of unauthorized online trading firms

Maria Nikolova

The number of unauthorized online trading websites blocked by Italy’s Consob has risen to 94.

Italy’s Companies and Exchange Commission (CONSOB) continues to make use of the powers granted to it under the so-called “Growth Decree”. Today, the regulator announces that it has ordered the blocking of the access from Italy to six unauthorized websites  for online trading.

The websites belong to entities that are not authorized to offer financial services in Italy but continue to solicit investments from Italian customers. The six websites are:

  • Orion Consulting Ltd (www.kapitalswiss.com);
  • CapitalTechFX (https://capitaltech24.com);
  • Game Capital Ads Limited (https://360worldbtc.com and https://it.360worldbtc.com);
  • Maximus Global Markets Ltd (https://evolutionbrokers.com);
  • ActivBroker Ltd (https://activbroker.com).

Thus, the number of sites blocked since last July has risen to 94, Consob estimates.

The “Growth Decree” has expanded the powers of Consob well beyond the issuance of warnings against fraudulent brokerages or taking down the Italian versions of the websites of illegal entities. Thanks to the “Growth Decree” (Law no. 58 of June 28, 2019, article 36, paragraph 2-terdecies), the regulator has obtained the power to order the Internet Service Providers to block access to websites of unauthorized online trading firms.

Last week, Consob ordered the blocking of five websites:

  • Redal Ltd, Elit Property Vision Ltd e Richmondfx Ltd (https://richmondfx.com);
  • Globalfx Ltd (https://globalfx.org);
  • Rmt 500 Ltd (https://rmt500.com);
  • Premium Solutions Ltd (https://thepremiumbrokers.com);
  • Aj Asset Management (www.ajassetmanagement.com).

The regulator notes that it may take several days for the blocking of websites to be implemented by ISPs.

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