Like every Monday over the last couple of months, the Italian Consob has ordered the blackout websites that illegally offer financial services to Italian consumers and investors. Unfortunately, Consob is currently the only EU regulator to take this effective measure. However, it would be desirable if more member states would create a legal basis for blocking illegal or fraudulent websites. This week, Consob ordered the black-out of the following five websites.
- FCS Technology Ltd with website https://stockmarketinvestpro.com;
- NEWWAY I Pltd with website https://luxurycapitals.com;
- Eu Trade Ltd with the websites https://eu-trade4u.com, https://reserve4u.co, and https://client.reserve4u.co;
- BIM LLC – Nata Trade Limited with the website www.natatrade.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 479.