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  • Italian Consob orders black-out of five illegal financial services providers

    Italian Consob orders black-out of five illegal financial services providers

    Consob is currently the only financial market regulator known to us that has the legal authority to order internet providers to black-out of illegal financial sites. Including the five new black-out orders, Consob has already blocked 335 websites for the Italian market. Almost all blocked sites offer illegal broker services.

     
  • Regulatory Enforcement – Italian Consob ordered black-out for another five scam brokers

    Regulatory Enforcement – Italian Consob ordered black-out for another five scam brokers

    The Italian Consob is the only EU regulator with the power to block websites of unauthorized financial service providers and scams as a means of regulatory enforcement action. The black-out of the respective website is intended to prevent Italian consumers from accessing these offers and being cheated. On Nov 9, 2020, Consob ordered the black-out of another five websites.

     
  • CONSOB blocks IC Markets with dramatic consequences

    CONSOB blocks IC Markets with dramatic consequences

    the Italian regulator CONSOB announced that the website of IC Markets (a/k/a IC Markets Global) operated by the offshore entity Raw Trading Ltd, BVI, will be blocked. CONSOB will block financial services providers and their websites if they are in breach of regulatory requirements through continued violation of the regulatory provisions.

     
  • Italian CONSOB blocks another six scam broker sites

    Italian CONSOB blocks another six scam broker sites

    The Italian CONSOB is currently the only regulator in the EU with the approach to blocking the websites of scams and unauthorized financial service providers. This regulatory enforcement tool is intended to protect Italian consumers and retail investors by making illegal financial products inaccessible. A few days ago, CONSOB blocked another six sites.

     
  • Austrian FMA and other regulators warn against StarkMarkets broker scam

    The Austrian Financial Market Authority FMA has issued an investor warning against the scam broker StarkMarkets (www.starkmarkets.com) which is allegedly operated by Krisimark Ltd and SWISSGEM Ltd in Sofia, Bulgaria. Already in June 2020, the Canadian British Colombia Securities Commission (BSC) issued an investor warning, and in July the New Zealand FMA (here). The scam facilitating payment processor is once again the Cypriot Praxis Cashier.

     
  • BaFin issues cease and desist order against TheCapitalStocks and RoyaltyFinance

    The German regulator BaFin has warned against the broker scams TheCapitalStocks (www.thecapitalstocks.com) and RoyaltyFinance (www.royaltyfinance.io) which are allegedly operated by Kleinman Enterprise Ltd in St. Vincent & the Grenadines. Already in August 2020, the Italian CONSOB warned against these scams. Both are white label solutions of the Bulgarian Global CRM Solution Platform.

     
  • Spanish Watchdog CNMV warns against GlobalspotFX and Trade Com

    The Spanish regulator CNMV has issued an investor warning against the scam broker GlobalspotFX (www.globalspotfx.com). The scam is allegedly operated by Trade Com Limited for an office in London. As a payment provider we have found the Russian PayeCards (www.payecards.com). Already in July 2020, the Italian regulator CONSOB had issued a warning against the scam.

     
  • CONSOB blacked out another six scam brokers

    The Italian regulator CONSOB blacklisted a further seven scam brokers on 3 August 2020. This means that the brokers' websites will soon no longer be accessible for Italian customer victims. At present, the Italian watchdog is the only regulator using this sensible measure. The number of sites blacked out since July 2019 has thus risen to 268.

     
  • CONSOB blacked out another six scam brokers

    The Italian regulator CONSOB blacklisted a further seven scam brokers on 3 August 2020. This means that the brokers' websites will soon no longer be accessible for Italian customer victims. At present, the Italian watchdog is the only regulator using this sensible measure. The number of sites blacked out since July 2019 has thus risen to 268.

     
  • Gooood Morning BaFin – it’s time to start protecting, supervising, and cybercrime fighting!

    It's stunning. Before the eyes of the world public, the scandal of the DAX listed Wirecard unfolded over years while the BaFin did nothing but file complaints against investigative journalists and traders. BaFin has the legal mandate to protect the capital market and investors. Despite numerous warnings and circumstantial evidence, it has not fulfilled this mandate. BaFin must be accused of gross negligence and embezzlement.