The Italian watchdog Consob is currently the only financial market regulator known to us that has the legal authority to order internet providers to black-out of illegal financial sites. The legal basis for this is the “Growth Decree” law passed in June 2019. Including the five new black-out orders, Consob has already blocked 335 websites for the Italian market. Almost all blocked sites offer illegal broker services.
Below are the sites Consob has ordered to be blacked out:
- ForTradersFx Ltd (website www.for-tradersfx.com);
- Mibtrades (website www.mibtrades.com);
- Iacademy (website www.iacademy.io and url iacademy.io);
- GAM Group Ltd and Llc Ic Prime Broker (website https://marketsfx.co);
- Hbc Market Ltd and Zentrale Zahlstelle Ltd (website www.hbc-markets.com).
The number of sites blacked out since July 2019, when Consob was granted the legal authority to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 335.
