Aggregated News From Investment Management Regulators

Abusive financial services: Consob blacks out 5 abusive websites (Press Release of 27 november 2020)

Report/Flag

Please complete the required fields.



Consob has ordered the blackout of 5 new websites that abusively offer financial services.

The Authority availed itself of the powers deriving from the “Growth Decree” (Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet connectivity service providers to inhibit access from Italy to the websites through which financial services are offered without due authorization.

Below are the websites Consob has ordered to be blacked out:

  • B.O. Tradefinancials Ltd (website www.accessfxtrade.com)
  • Capital Letter GMBH e Capital Letter Ltd (website www.brightfinance.co);
  • NewTraders Holdings Ltd (websites www.toltechfx.com, www.cmcxxmarket.com and www.newtradersholdings.com).

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 340.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors’ attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviours, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorised, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that on the website www.consob.it  there is a section on the homepage “Watch for Scams!“, providing useful information to warn investors against financially abusive initiatives.

Press release PDF version

This news item was originally published by the The Commissione Nazionale per le Società e la Borsa (CONSOB). For more information, see the Source Link.

Regulator Information

Recent Articles

The SEC Levels Up: Statement on In re Activision Blizzard

Feb. 3, 2023 Today, the Commission announced a $35 million settlement with Activision Blizzard Inc. (“Activision Blizzard”).

Mr William Stephen Cairns (date of Birth 15 January 1949) of Key West, Doyle Road, St Peter Port Guernsey GY1 1RG — GFSC

Date of prohibition order pursuant to section 33 of the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 and prohibited functions: From 2 February 2023 until 2 July

Mr Du Preez Gert Vermeulen (Date of Birth 5 August 1987) of Doyle Court, Doyle Road, St Peter Port Guernsey GY1 1RD

Date of prohibition order pursuant to section 33 of the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 and prohibited functions: From 2 February 2023 until 2 Mar

Publication of a Notice of the fact of a Prohibition Order and a Discretionary Financial Penalty — GFSC

On 2 February 2023, the Commission imposed discretionary financial penalties as follows:  Mr William Stephen Cairns (“Mr Cairns”) a financial penalty of £133,000; and  Mr Du Preez Gert Vermeulen (“M

Get the latest from Regulatory.News in your inbox!

×