Number of websites blocked by Italy’s Consob reaches 147

Maria Nikolova

Today, the Italian regulator ordered the blocking of access to eight more websites that are unauthorized to offer financial services.

Italy’s Companies and Exchange Commission (CONSOB) continues with its efforts to stop unauthorized investment firms to target Italian customers. Today, the regulator announces that it has ordered the blocking of access to eight more websites which offer investment services to Italian residents without having the necessary permissions to do so.

The regulator has ordered Internet service providers (ISPs) to block access to the following eight websites:

  • Bauman Ltd and Pacific Consulting Co Ltd (;
  • FM Solutions Group Limited (;
  • Fintrade Limited (;
  • Premium Solutions Ltd ( and;
  • “VetoroBanc” and “Vetoro, Inc.” ( and;
  • Global Top Marketing LTD and GPS Marketing Ltd (

In issuing these orders, the Commission has made use of the powers resulting from the ‘Decreto Crescita’ (‘Growth Decree’, Law no. 58 of June 28, 2019, article 36, paragraph 2-terdecies). Along with these eight websites, the numbers of websites blocked under the “Growth Decree” has reached 147.

Last week, the Italian regulator ordered the blocking of access to eight websites too.

The activities for the blocking of the websites by ISPs are underway. For technical reasons it can take several days for the blackout to be implemented.

The Italian regulator has also taken other measures to protect investors from the illegal offering of financial services. In December 2019, for instance, Rodeler Limited, the Cypriot parent of 24fx and 24option, was banned from providing investment services in Italy and from making solicitations and acquisitions of new clients in the country as well as to continue its relations with Italian clients. The investment firm must be compliant with the detailed orders given by the Italian clients for closing the open accounts. Consob explains that the measure was necessary as Rodeler Limited has been repeatedly violating the regulations in force despite the directions of the Cyprus Securities and Exchange Commission (CySEC), issued in response the reports sent by Consob to the CySEC.

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