Italy’s CONSOB Issues Further Warnings Against Unregulated Brokers

The Commissione Nazionale per le Società e la Borsa (CONSOB) on Monday issued warnings against six companies, operating through two websites. The regulator claims all are unauthorized to offer products and services to the Italian public.

The first warning goes to Solid Capital Ltd, which offers its services through www.axecc.io. The Italian regulator also issued a warning against Vortex Capital Ltd, which, until recently, was listed as operating the website.

The website is advertising the Axecc Trading Platform and claims to offer hedging insurance, Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term, and investment planning.

According to the website, it says: “Axecc is the first and most inventive real-time Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term trading platform available to the public. We are not only the first-movers, but we are also proud to maintain the best technology and services in the excelling industry with high volatility and future products.”

Solid Capital is registered at the Republic of Marshall Islands, Trust Company Complex, Ajeltake Road, Majuro MH96960. CONSOB warns that the company is not authorized to offer financial services or products in Italy.

The next set of warnings go to MarketTM ltd, Ft Global Services Ltd, Ft Global Ltd and Lordos Enterprise Ltd, which have a connection to the www.markettm.com website.

In the terms and conditions of the website, MarketTM ltd is mentioned, with an alleged office in London. The company offers a range of trading services through its online portals and platforms. It offers investors the ability to trade forex and cryptocurrency instruments as well as stock indices.

According to its website, the company is registered at 78 Cornhill, London, United Kingdom. CONSOB has determined that MarketTM is not an authorized company in Italy and therefore can’t offer its products to the Italian public.

According to the statement from CONSOB, Ft Global Services Ltd and Ft Global Ltd were added to the list because at the bottom of each page of the site it is specified that "The card transactions are processed through FT Global Services Ltd ... the wholly owned subsidiary of FT Global Ltd ". In addition, Lordos Enterprise Ltd is listed as the contact under the "Help" section. This company is allegedly registered in the Marshall Islands.

Additional warnings

In addition to the above warnings, the Italian regulator also posted warnings of scams and unauthorized brokers from nine other regulators throughout the world. This includes warnings from the UK’s Financial Conduct Authority, the Australia Securities and Investments Commission, Hong Kong’s Securities and Futures Commision, and the Swiss Financial Market Supervisory Authority FINMA.