The Italian Companies and Trading Commission (CONSOB) has issued a ban on accessing four new unauthorized investment websites.
The latest order is for the following entities:
Activ4X (website https://www.activ4x.com And related pages https://client.activ4x.com And https://trade.activ4x.com ）;
VirtuFinance (website www.virtufinancial.eu and related pages) https://webtrader.virtufinancial.eu ）;
XTB Empire Ltd (website https://xtbempire.com And related pages https://client.xtbempire.com ）;
'Goldy Deal' (website www.goldydeal. com).
The above website includes three illegal financial intermediary websites and one website that provides financial product quotes without a prospectus.
When issuing the order, the Authority utilized the "Decreto crescita" ("Growth Act"; No. 58 of June 28, 2019) on the basis of the power of Law No. 36 (Articles 2 to 2), Consob may order internet service providers to prevent access from Italy to websites that provide financial services without proper authorization.
Since Consob had the power to order a ban on accessing fraudulent financial intermediary websites in July 2019, the number of blocked websites has increased to 890. Last week, regulatory authorities ordered a ban on accessing four websites.
Internet service providers operating within Italy are blocking these websites. Due to technical reasons, the blockade may take several days to take effect.
