CONSOB Flags Further Unregulated FX Brokers

La 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 Velmon Enterprise Ltd (www.novuscm.com, www.novuscmit.com), IBA ‎Group Ltd (www.fxiba24.com), Capzone Invest Ltd (www.hqbroker.com) and Elect Capital ‎‎(lect.capital) were added to the Italian regulator’s warning list and CONSOB ‎recommended that Italian investors avoid trading with these companies.‎

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 Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term techniques.‏

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 behaviour by financial market ‎participants, and the 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.‎