CONSOB Announces Blackout of 6 New Abusive Websites

The Italian financial market watchdog the Commissione Nazionale per le Società e la Borsa (CONSOB) announced yesterday the blackout of 6 new websites that offer financial services/financial products illegally, including 5 illicit financial intermediation websites and 1 website through which an offer of financial products is carried out in the absence of a prospectus.

Below are the websites CONSOB has ordered to be blacked out:

• "FinoMarkets" (website www.finomarkets.com);

• Sealtd Ltd (website www.sealtd.io and related pages, https://trading.sealtd.io, and https://secure.sealtd.io);

• EurofxFinance Limited (website www.eurofxfinance.com and related page https://client.eurofxfinance.com);

• Seabreeze Partners Ltd (website www.profitassist.co);

• "Xglobalfin" (website www.xglobalfin.com);

• ​Aga Trading Platform LTD (website https://agatrading.club/ita).

The regulator availed itself of the powers deriving from the "Growth Decree" (Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), relating to the blackout of the sites of abusive financial intermediaries, as well as of the power introduced by the Law no. 8 of 28 February 2020 (Article no. 4, paragraph 3-bis), with reference to the blackout of the site through which the abusive 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 522.

Additionally, Consob noted that for technical reasons, it can take several days for the black-out to come into effect.