Like clockwork, the Italian regulator Consob has again brought the news about websites closed for access by Italian consumers every Monday because of illegal financial offers. Today, six new sites have received black-out orders. Since July 2019, the Italian watchdog has blocked 522 websites for the Italian market. Consob is currently, unfortunately, the only European regulator that has this power in regulatory enforcement. It would be desirable if other jurisdictions also gave their regulators such authorization to fight scams more efficiently.
Consob has ordered the black-out of six new websites that illegally offer financial services. Five are abusive financial intermediation sites, and one site offers financial products without the required prospectus. Below are the sites Consob has ordered to be blacked out:
Below are the sites Consob has ordered to be blacked out:
- FinoMarkets with website www.finomarkets.com;
- Sealtd Ltd with website www.sealtd.io;
- EurofxFinance Limited with website www.eurofxfinance.com;
- Xglobalfin with website www.xglobalfin.com;
- Aga Trading Platform Ltd with website https://agatrading.club/ita.
The number of sites blacked out since July last, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 522.
