Italy’s Companies and Exchange Commission (CONSOB) has ordered the blocking of access to five new unauthorized investment websites.
In issuing the orders the regulatory authority made use of the powers deriving from the “Deployment Decree” (law no. 58 of June 28, 2019, article 36, paragraph 2-terdecies), under which Consob can order the service providers of the Internet to block access from Italy to websites through which financial services are offered without the necessary authorization.
The sites targeting the latest set of Consob orders are:
- “StormInvest” (website www.storminvest.org);
- “Nextgentrading” (website and related pages and
- “Finexleaders” (website www.finexleaders.eu);
- AI2Trade Ltd (website www.ai2trade.com and related pages and
- Axia Group Ltd and “Axiacvs” (website www.axiacvs.co and related pages and
This brings the total number of sites blocked by Consob since July 2019 to 1,013. Last week, the regulator ordered the blocking of access to four unauthorized investment websites.
The process of implementing the shutdown of these websites by Internet service providers is ongoing. For technical reasons, it may take several days for the block to take effect.