Regulatory Enforcement – This week’s Consob blackouts!
For many weeks, the Italian Consob has been announcing the blackout of websites illegally offering financial services. Most of the time, five sites are announced to be blocked. Why exactly five sites, we do not know. Like every week, the Italian regulator Consob ordered the black-out of five new websites of illegally operating financial services providers. Consob is the only EU regulator to take this effective measure. However, it would be desirable if more member states would create a legal basis for blocking illegal or fraudulent websites.