The Italian Commission for Business and Trade (CONSOB) has ordered the blocking of access to five new unauthorized investment websites.
In issuing this order, the regulator used its powers under the “Growth Decree” (Law No. 58 of 28 June 2019, Article 36, Paragraph 2, Paragraph 31), pursuant to which Consob Service providers can be ordered to block. Access from Italy to websites where financial services are provided without the necessary authorization.
The following websites are eligible for Consob’s latest order:
- “StormInvest” (website www.storminvest.org);
- “Nextgentrading” (website https://nextgentrading.io and related pages https://client.nextgenrading.io and https://webtrader.nextgentrading.io).
- “Finexleaders” (website www.finexleaders.eu);
- AI2Trade Ltd (website www.ai2trade.com and associated pages https://trading.ai2trade.com and https://panel.ai2trade.com);
- Axia Group Ltd and “Axiacvs” (website www.axiacvs.co and associated pages https://client.axiacvs.co and https://webtraderapp.net).
Therefore, since July 2019, the total number of sites blocked by Consob has increased to 1,013. Regulators last week ordered access to four unauthorized investment websites blocked.
A process is underway to implement a blackout of these websites by internet service providers. Due to technical reasons, blocks may take several days to be implemented.