CONSOB Added 7 Illegal Financial Services Platforms into its Warning List

Fazzaco learned that CONSOB, the Italian financial market supervisor, has blacklisted 7 illegal financial services websites, six of which are illegally running in the country while one is providing financial products without any prospectus. 

As always, these illegal platforms offer derivatives products of currency pairs, cryptocurrencies and other asset classes. The illegal platforms added to the regulatory warning list are as below:

- 24tradex (websites www.24tradex.com and www.24tradex.co and related page https://client.fx-trade.tech);

- Trade Action Ltd (website https://tradesactions.com and related page https://accounts.tradesactions.com);

- Renaissance Invest LTD (website www.renaissanceinvestltd.net);

- ProfitMarketsCFD (website www.profitmarketscfd.com and related page https://webtrader.profitmarketscfd.com);

- Notesco Limited (website www.fxgiants.com and related page https://hub.fxgiants.com).

- GDenlinea (website https://gdenlinea.net​).

CONSOB started to add illegal financial platform into its warning list since July 2019. And until now, the regulator blacklisted 565 entities, including the recently added seven.

“The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect,” Consob stated.