CONSOB Flags Four Unregulated Brokerage Firms

CONSOB also waned against several companies ‎that ‎have been listed as trading scams by other European ‎regulators‎.

Commissione Nazionale per le Società e la Borsa (CONSOB), an ‎‎independent statutory body set up to help police Italy’s domestic securities ‎‎and futures market, has updated its blacklist with an additional four ‎brokerages ‎that have been illegally operating in the country.‎

The online brokers Safe Invest (‎‏;‏‎ Plus 500 Pro ‎‎(‎‏;‏‎ International Banking Investigation Group ‎‎(, Whitestone Finance Ltd ‎, clone of the White Stone Finance Ltd ‎licensed company, based in Jersey, were added to the Italian regulator’s ‎warning list and CONSOB ‎recommended that Italian investors avoid trading ‎with these companies.‎

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In addition, CONSOB has published a warning against a list of financial ‎entities ‎that have been listed as trading scams by other European financial ‎regulators. This is why ‎CONSOB advises Italian investors to check its ‎registers before they deposit any funds with a ‎broker, especially if the ‎related broker used aggressive marketing techniques.‎‏

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The Italian regulator follows in the footsteps of other authorities in Europe ‎which have ‎recently taken serious steps to curtail unauthorized investments ‎activities and stem the flow of ‎unregulated and non-compliant companies.‎

As the public authority responsible for regulating the ‎Italian financial ‎markets, CONSOB’s main activity is ‎protecting the investing public.‎

In this respect, CONSOB is responsible for ensuring ‎transparency and ‎correct behavior by financial market ‎participants, and the disclosure of ‎complete and accurate ‎information to the investing public by listed ‎companies, ‎and compliance with regulations. It also conducts ‎investigations concerning potential infringements of ‎insider dealing and market ‎manipulation law.‎

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