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Italy is a major market for the forex industry, which however is serviced mainly by international brokers, with a European license.
And that is possible because as an EU member Italy and its regulatory agency the Commissione Nazionale per le Societa e la Borsa (CONSOB) comply with the Markets in Financial Instruments Directive (MiFID), which allows, for example, a broker, regulated by the Cyprus Securities and Exchange Commission (CySEC) to operate in Italy after going through a formal passportization procedure with CONSOB. That is the reason quite a few forex and CFD brokers are licensed by CONSOB per se.
Other wise the Commission is the public authority responsible for regulating the Italian securities market. It regulates the investment services and operations of all financial intermediaries, as well as all activities on the regulated markets, including the regulation of the Italian stock exchange – the Borsa Italiana.
CONSOB also oversees the operations of market management companies, the transparency and orderly conduct of trading, as well as the transparency and the fairness of the conduct of intermediaries and financial representatives.
Regarding forex brokers, all CONSOB requirements are uniform with the ones specified by the MiFI Directive – namely to guarantee negative balance protection to all customers, to maintain a minimum operational capital of at least 730 000 EUR, to keep all trading capital in a segregated, protected form creditors account, to allow external audits and to file regular reports. In addition, all EU and respectively Italian brokers are prohibited from offering trading bonuses.
Forex news from Italy
Italy’s CONSOB just last week ordered five more fraudulent FX websites to be blocked. Here are the blocked sites and the companies behind
The Italian markets regulator CONSOB has order to blackout of five illicit financial services-offering websites. The regulator stated clearly that the following
The Italian stock exchange and financial sector regulator CONSOB (Commissione Nazionale per le Società e la Borsa) announced last Friday that it
Italy’s CONSOB, the local financial overseer, has added 5 new websites to its blacklist over the weekend. These fake service providers promoted
Italy’s CONSOB just added 5 new websites to its list of banned internet services proviuders. The overseer has deemed these unauthorized as
The Italian regulator CONSOB updated its website on Friday with 6 new blacklisted entities. With this move, the watchdog is asserting its
CONSOB, the Italian financial regulator that also takes care of supervising all local FX brokers recently added 6 new domains to its
The Italian financial and Forex regulator has revealed five news websites that is has officially blacklisted. Currently, the total list of red-flagged
CONSOB, the Italian FX regulator is currently blacklisting 452 illegally operating FX websites. The watchdog added 6 new domains to its list
The Italian FX regulator is well known amongst the forex industry players as the one with the power to demand local internet
Experiments with a digital euro in Italy have already begun, initiated by the Italian Banking Association (ABI), an organization made up of
The unregulated Forex brokerage GoldFXtrading most likely registered offshore has been added to the warning list of the Italian financial watchdog Commissione Nazionale
The Marshall Islands-based companes Silver Wolf Limited and Joshua Limited acting through the websites www.marketspremium.com and capitalmarketsbanc.co been added to the warning list
Numerous broker brands of the same company, including centrobancitaly.com; www.mycentrobancitaly.com; www.centrobancit have been added to the warning list of the Italian financial watchdog Commissione
The unregulated Forex brokerage Brokerz LTD registered offshore in Saint Vincent and the Grenadines has been added to the warning list of
The unregulated Forex brokerage FSMSmart supposedly based in Switzerland has been added to the warning list of the Italian financial watchdog Commissione Nazionale per