Italy regulator CONSOB warns on eight new brokers


warning

Italy’s financial markets regulator National Commission for Companies and the Stock Exchange (CONSOB) has issued a public warning against new forex brokers.

CONSOB has:

  • suspended for a period of 90 days, under the terms of art. 99, paragraph 1, letter b), of the Consolidated Law on Finance – CLF, Service Merchant Corp. from its activities offered to the public resident in Italy for the purpose of investments of a financial nature, also carried on through the website www.merchantshares.com;
  • suspended for a period of 90 days, under the terms of art. 101, paragraph 4, letter a), of Italian Legislative Decree no 58/1998, advertising in relation to the offer to the public resident in Italy concerning investments of a financial nature promoted by Service Merchant Corp. carried out through the website www.euroinrete.blogspot.it/2016/11/merchantshare.html.

The National Commission for Companies and the Stock Exchange also reported that:

  • the website www.profitmaximizer.com cannot be traced to subjects authorised to provide investment services and facilities in Italy.
  • the companies Dsmg Ltd and Europe Ridge Eood are not authorised to carry out investment services and business in Italy in any way, including through the website www.binarybrokerz.com;
  • the companies Evolution Trade Lp and Revolution Markets Lp are not authorised to carry out investment services and business in Italy in any way, including through the website www.exxonfx.com;
  • the company International Partners is not authorised to provide investment services and business in Italy in any way.
  • the company Gmi Bq Ltd is not authorised to provide investment services and business in Italy in any way, including through the website www.gmibanque.com.

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Italy regulator CONSOB warns on eight new brokers

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