The Italian Companies and Exchange Commission
(CONSOB), Italy’s financial regulatory authority, says it has ordered the
blackout of seven unauthorized websites.

CONSBOB, which announced this action on Friday
in a press statement, said the websites offer financial services and financial
products illegally.

Last month, the watchdog similarly black listed five illegal financial websites for offering
unauthorized services to Italian citizens.

On the latest black-out, CONSOB explained that
while five of these websites acted as illegal financial intermediaries, the
other two were used to offer financial products “in the absence of a
prospectus.”

The flagged websites are:
Tetris Group Ltd (https://battletrade.io), Eudaimon Consulting LLC (https://aceinvest.co), FTI Finance (www.ftifinance.com) and FX Publications INC/ Dlfinindex Ltd
(https://dolfinindex.com with a related page: https://client.dolfinindex.com).

Others are: Promarketing Ltd (https://greencapitalz.com with related page https://platform.greencapitalz.com), Global Success Management Inc (https://globalsuccessmanagement.com) and GIG-OS (https://gig-os.com).

CONSOB, however, pointed out that the black-out
of the websites by internet service providers operating in the country is still ongoing.

“For technical reasons, it can take several days
for the black-out to come into effect,” it said.

The financial watchdog explained that it acted
on the power conferred on it by sections of Italy’s Growth Decree relating to
the blackout of the sites of abusive financial intermediaries.

The regulator further said it also acted on the
section of the decree that references when to blackout a site through which
an abusive financial offer is carried out.

“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 720,” it said in the statement.

‘Greatest Diligence’

CONSOB in the statement urged investors to
exercise “the greatest diligence” in order to make informed investment choices.

The watchdog further urged them to adopt “common
sense behaviour” it said were essential to safeguard their savings.

According to CONSOB, examples of such behaviour to
adopt when dealing with websites that offer financial services include checking
in advance to confirm that the operator they want to invest in is
authorised.

For offers of financial products, the financial
authority asked that investors ensure that a prospectus has been published.

“To this end, CONSOB would remind you that on
the website, there is a section on the homepage ‘Watch for Scams!’, providing
useful information to warn investors against financially abusive initiatives,”
CONSOB added.

The Italian Companies and Exchange Commission
(CONSOB), Italy’s financial regulatory authority, says it has ordered the
blackout of seven unauthorized websites.

CONSBOB, which announced this action on Friday
in a press statement, said the websites offer financial services and financial
products illegally.

Last month, the watchdog similarly black listed five illegal financial websites for offering
unauthorized services to Italian citizens.

On the latest black-out, CONSOB explained that
while five of these websites acted as illegal financial intermediaries, the
other two were used to offer financial products “in the absence of a
prospectus.”

The flagged websites are:
Tetris Group Ltd (https://battletrade.io), Eudaimon Consulting LLC (https://aceinvest.co), FTI Finance (www.ftifinance.com) and FX Publications INC/ Dlfinindex Ltd
(https://dolfinindex.com with a related page: https://client.dolfinindex.com).

Others are: Promarketing Ltd (https://greencapitalz.com with related page https://platform.greencapitalz.com), Global Success Management Inc (https://globalsuccessmanagement.com) and GIG-OS (https://gig-os.com).

CONSOB, however, pointed out that the black-out
of the websites by internet service providers operating in the country is still ongoing.

“For technical reasons, it can take several days
for the black-out to come into effect,” it said.

The financial watchdog explained that it acted
on the power conferred on it by sections of Italy’s Growth Decree relating to
the blackout of the sites of abusive financial intermediaries.

The regulator further said it also acted on the
section of the decree that references when to blackout a site through which
an abusive financial offer is carried out.

“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 720,” it said in the statement.

‘Greatest Diligence’

CONSOB in the statement urged investors to
exercise “the greatest diligence” in order to make informed investment choices.

The watchdog further urged them to adopt “common
sense behaviour” it said were essential to safeguard their savings.

According to CONSOB, examples of such behaviour to
adopt when dealing with websites that offer financial services include checking
in advance to confirm that the operator they want to invest in is
authorised.

For offers of financial products, the financial
authority asked that investors ensure that a prospectus has been published.

“To this end, CONSOB would remind you that on
the website, there is a section on the homepage ‘Watch for Scams!’, providing
useful information to warn investors against financially abusive initiatives,”
CONSOB added.

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