The Italian Companies and Exchange Commission (CONSOB) has issued an order blocking access to five unauthorized investment websites.

In issuing the order, the Consob utilized the powers granted by the “Decreto crescita” (“Growth Decree”; Law no. 58 of June 28, 2019, article 36, paragraph 2 ter), on the basis of which Consob can order Internet Service Providers to block access from Italy to websites offering financial services without proper authorization.

The website targeted by the latest Consob order is:

• “FCapital24” (website https://fcapital24.com);
• “Future Invest Limited” (website https://future-invest-limited.com and related pages https://cfd.future-invest-limited.com);
• “LevictousLTD.com” (website https://levictousltd.com and related pages https://client.levictousltd.com);
• Trading42 Ltd and Trading42 Financial Llc (website https://trading42.com and related pages https://panel.trading42.com);
• “RussellGroupFX” (website https://russellgroupfx.com and related pages https://client.russellgroupfx.com, https://webtrader.). russellgroupfx.com, https://wt.russellgroupfx.com).

Since July 2019, when Consob had the right to order the blocking of fraudulent financial intermediary websites, the number of blocked sites has risen to 1,070 Last week, the regulator ordered the blocking of Trade Club Limited, a website belonging to Vantage Global Limited and Crypto

Internet service providers operating in Italy are blocking the sites. For technical reasons, the blocking may take several days to implement.

Consob draws investors' attention to the importance of taking the utmost care in order to make informed investment choices, and that adopting common-sense behaviors is essential to protect their savings: among other things, in the case of websites offering financial services, checking in advance with their operators that their investments have been authorized and that, in the case of financial product offerings, the prospectus has been published.