Number of unauthorized investment websites blocked by Italy’s Consob surpasses 190

Italy’s Companies and Exchange Commission (CONSOB) continues to crack down on websites that illegally offer online trading services to Italian investors. Today, the Italian regulator announces that it has ordered the blocking of access to five more websites of entities that target Italian residents without having the necessary authorization to do so.

The five websites are:

• Sigma Consulting Limited and Solt Corp. Ltd (www.firstcapital.fm);
• Itistocks Brokers (https://itistocksbrokers.com);
• GAM Group Ltd (www.marketsfx.org);
• Elit Property Vision Ltd (https://global-banco.com);
• Platin-fx Ltd (www.platin-fx.com)

This way, the number of websites blocked by Italian regulator under the so-called “Growth Decree” has risen to 194. Let’s recall that the “Growth Decree” allows Consob to block access to unauthorized investment websites from Italian territory with the help of local Internet service providers. The regulator warns that it takes several days to implement the blocking.

Earlier in April, Consob said it ordered the blackout of www.tradeatf.com, as the website has been used by Hoch Capital Ltd, a Cyprus-based investment company, in violation of the ban imposed on it by Consob in December 2019. The website belongs to TradeATF, a broker operated by Hoch Capital.

According to the regulator, Hoch Capital is using the website to continue to provide investment services, to solicit and to acquire new customers in Italy as well.