The Italian financial markets regulator Consob announced today that it has blocked four new websites for offering financial services illegally. One of the block entities is a clone of the Northern American Derivatives Exchange (Nadex).
With the latest addition, the number of illegal platforms the financial market watchdog is blocking comes to 898.
The latest websites offering financial services to be blocked are Prime Markets (primemarkets.co.com), Fintech Market (fintechmarket.consulting), Luxem Capital, Inc. (luxemcapital.com), and Nadex CFD Limited (nadexcfd.com).
The Consob has the authority to block websites offering illegal financial services at an internet service provider level.
The regulator stated:
Consob draws investors’ attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.
