CONSOB Suspends Advertising Activity of Coinspace for 90 Days
- The Italian watchdog explained that Coinspace Ltd offers unregulated “cryptocurrency extraction packages”.
Italy’s financial markets regulator, the Commissione Nazionale per le Società e la Borsa (CONSOB), today suspended for a period of 90 days the advertising activity carried out through the website www.coinspace1.com relating to the public offering promoted by Coinspace Ltd. CONSOB added that the precautionary measure was taken as the company is not authorised to provide investment services or activities in Italy.
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The warning comes just a week after the watchdog red-flagged five other brokers for contravening its rules and regulations in a similar vein to the ones included in today’s updated list.
The Italian watchdog explained that Coinspace Ltd, also operating as www.smartbotpro.com, offers unregulated “cryptocurrency extraction packages”. It added that while some blacklisted brands not only lack the appropriate licenses or authorization to operate in Italy, it also believes that these platforms are pure trading scams that offer fraudulent High Yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a Read this Term Investment Programs (HYIP).
The company has come under the scrutiny of CONSOB after advertising its services to the Italian public when it did not have the permission to do so.
As the public authority responsible for regulating the Italian financial markets, CONSOB’s main activity is aimed at the protection of the investing public.
In this respect, CONSOB is responsible for ensuring transparency and correct behaviour by financial market participants, disclosure of complete and accurate information to the investing public by listed companies and Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term with regulations. It also conducts investigations with respect to potential infringements of insider dealing and market manipulation law.
Italy’s financial markets regulator, the Commissione Nazionale per le Società e la Borsa (CONSOB), today suspended for a period of 90 days the advertising activity carried out through the website www.coinspace1.com relating to the public offering promoted by Coinspace Ltd. CONSOB added that the precautionary measure was taken as the company is not authorised to provide investment services or activities in Italy.
To unlock the Asian market, register now to the iFX EXPO in Hong Kong
The warning comes just a week after the watchdog red-flagged five other brokers for contravening its rules and regulations in a similar vein to the ones included in today’s updated list.
The Italian watchdog explained that Coinspace Ltd, also operating as www.smartbotpro.com, offers unregulated “cryptocurrency extraction packages”. It added that while some blacklisted brands not only lack the appropriate licenses or authorization to operate in Italy, it also believes that these platforms are pure trading scams that offer fraudulent High Yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a Read this Term Investment Programs (HYIP).
The company has come under the scrutiny of CONSOB after advertising its services to the Italian public when it did not have the permission to do so.
As the public authority responsible for regulating the Italian financial markets, CONSOB’s main activity is aimed at the protection of the investing public.
In this respect, CONSOB is responsible for ensuring transparency and correct behaviour by financial market participants, disclosure of complete and accurate information to the investing public by listed companies and Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term with regulations. It also conducts investigations with respect to potential infringements of insider dealing and market manipulation law.