Monday is the Consob day. This Monday, the Italian regulator ordered the blackout of seven new websites that abusively offer financial services. Five of these websites act as financial intermediation; two sites offer financial products without the required prospectus. Unfortunately, Consob is currently the only EU regulator to take this effective measure. However, it would be desirable if more member states would create a legal basis for blocking illegal or fraudulent websites.
Below are the sites Consob has ordered to be blacked out:
- UAB Bensela d/b/a All Financial Trading and website www.allfinancialtrading.com;
- Felicity Group Ltd d/b/a UnionStock and website https://unionstock.co;
- Lacari Group Ltd d/b/a FXCapitalize and website https://fxcapitalize.com (read this FinTelegram report on the Lacari Group scams);
- Hcm Group d/b/a HCM Group FX a/k/a Henyep Capital Markets and website https://hcmgroupfx.com and https://my.tradingroomstar.com;
- Lead Secure Ltd d/b/a FXdirects and website https://fxdirects.co;
- Leverit Panama SA and Sirio Compliance Trust d/b/a Sirioct and website https://sirioct.com.
The number of sites 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 474.