Italian CONSOB Adds 5 New Unauthorized Financial Websites to Its Blacklist

The Italian financial watchdog CONSOB has ordered the black-out of 5 new websites that offer financial services illegally, bringing the total number of websites blacked out to 1075.

Below are the new websites Consob has ordered to be blacked out:

• CFD Active (website https://cfdactive.com and related page https://client.cfdactive.com);

• High BTC Stock (website www.highbtcstock.com);

• TRADEONTOP Limited (website https://tradeontop.net and related page https://platform.tradeontop.net);

• Xtrader365 (website https://www.xtrader365.com);

• Shellinvestments (website https://shellinvestment.net).

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree" Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.

The regulator explained that it can take several days for the black-out of these websites due to technical reasons.