Italy’s CONSOB blocks extra unlawful funding web sites, complete reaches 927

Italy’s Firms and Alternate Fee (CONSOB) has issued orders for the blocking of entry to extra unlawful funding web sites.

The web sites and firms focused by the newest set of orders are:

• “Caledonia Advisory” – (web sites https://eibank.io and https://kunderbank.io and associated pages https://my.kunderbank.io and https://net.kunderbank.io);
• “Trade4winner” – (web site https://trade4winner.com and associated web page https://crm.sheersmarkets.com);
• “OnspotBNK” – (web site www.onspotcap.com and associated pages https://clientzone.onspotcap.com and https://webtrader.onspotcap.com).

The Authority availed itself of the powers deriving from the “Decreto crescita” (“Development Decree”; Regulation no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the premise of which Consob can order Web service suppliers to dam entry from Italy to web sites providing monetary companies with out the correct authorization.

n issuing the orders, the regulator made use of the powers deriving from the “Decreto crescita” (“Development Decree”; Regulation no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the premise of which Consob can order Web service suppliers to dam entry from Italy to web sites providing monetary companies with out the correct authorization.

The variety of web sites blacked out since July 2019, when Consob acquired the ability to order that the web sites of fraudulent monetary intermediaries be blacked out, has thus risen to 927.

Final week, the regulator ordered the blocking of entry to 4 web sites, together with these operated by ProtechFx and PrimusForex.

The black-out of those web sites by Web service suppliers working in Italy is ongoing. For technical causes, it might take a number of days for the blocking to be applied.