Regulators Slapped Industry with Record Fines in 2022, SEC in the Lead

CONSOB Issues Warning Against Host of Unauthorised Companies

by Colin Firth
  • The regulatory authority issues warnings against unauthorised companies.
CONSOB Issues Warning Against Host of Unauthorised Companies
Bloomberg
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The Italian regulator, Commissione Nazionale per la Societa e la Borsa (CONSOB), has issued a warning against a large number of companies for carrying out services and operations in violation Italian law.

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The list of companies include not only those that have been banned for illegal operations within Italy but also companies that are on the alert list of other regulatory bodies, like the Financial Conduct Authority (UK), the Financial Market Authority (Austria), Comisión Nacional del Mercado de Valores (Spain), the Swiss Financial Market Supervisory Authority, the Polish Financial Supervision Authority, the Danish Financial Authority, Commision de Surveillance du Secteur Financier (Luxembourg), the Securities and Futures Commission (Hong Kong), and the Czech National Bank, for offering investment services without the requisite authorizations.

The list of companies which the Italian regulator has warned against includes:

Paydiamond Marketing & Sales Limited (www.paydiamond.com);

Get Marketing Ltd (midasglobe.com);

Uniqueness and Faith PA Ltd (netobrokers.com);

Binext Solutions srl and Binext Global Ltd (10trading.com);

Vip Markets; and

Nordic Pearl Limited -none of which are authorised to provide any investment services in Italy.

This alert follows one issued in July by CONSOB when it alerted the public to 19 brokerages that were offering investment services to the public in an unauthorised manner.

The Italian regulator, Commissione Nazionale per la Societa e la Borsa (CONSOB), has issued a warning against a large number of companies for carrying out services and operations in violation Italian law.

Register now to the London Summit 2017, Europe’s largest gathering of top-tier retail brokers and institutional FX investors

[gptAdvertisement]

The list of companies include not only those that have been banned for illegal operations within Italy but also companies that are on the alert list of other regulatory bodies, like the Financial Conduct Authority (UK), the Financial Market Authority (Austria), Comisión Nacional del Mercado de Valores (Spain), the Swiss Financial Market Supervisory Authority, the Polish Financial Supervision Authority, the Danish Financial Authority, Commision de Surveillance du Secteur Financier (Luxembourg), the Securities and Futures Commission (Hong Kong), and the Czech National Bank, for offering investment services without the requisite authorizations.

The list of companies which the Italian regulator has warned against includes:

Paydiamond Marketing & Sales Limited (www.paydiamond.com);

Get Marketing Ltd (midasglobe.com);

Uniqueness and Faith PA Ltd (netobrokers.com);

Binext Solutions srl and Binext Global Ltd (10trading.com);

Vip Markets; and

Nordic Pearl Limited -none of which are authorised to provide any investment services in Italy.

This alert follows one issued in July by CONSOB when it alerted the public to 19 brokerages that were offering investment services to the public in an unauthorised manner.

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