The Italian financial markets regulator Consob announced on Thursday that it has blocked four new websites for offering financial services illegally.
With the latest addition, the number of illegal platforms the financial market watchdog is blocking comes to 825.
The latest websites offering financial services to be blocked are Bright Group LLC, BrokerCreditServiceLtd.net, Unico Aust Pty Ltd, CMS Ltd, and Olympusbrokers Ltd.
The financial services platforms offer high-risk investment instruments such as forex instruments and contracts for differences(CFDs), shares and other asset classes and cryptocurrencies.
One of the entities on the lists claims to be fully EU regulated broker but has not specified details on its license.
Consob has the authority to block websites offering illegal financial services at an internet service provider level.
The regulator stated:
The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.
