CONSOB Continues Fight Against Scams, Updates Blacklist

Italian monetary regulator the Commissione Nazionale per le Società e la Borsa (CONSOB),  began off this week by including a brand new warning on its web site. Today, the watchdog has set its sights on Nordic Pearl Ltd and Grand Services Ltd, stating the corporations wouldn’t have the required authorization to supply funding companies to residents of Italy.

According to the warning from CONSOB immediately, it has (translated): “ordered, pursuant to Article 7- octies, letter b), of the Consolidated Law on Finance – Tuf to terminate the violation of Article 18 of the TUF consisting within the provide and in the direction of the Italian public for companies and funding actions carried out by Nordic Pearl Ltd and Grand Services Ltd, by means of the web site”

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FXG Invest is a buying and selling supplier of overseas alternate (foreign exchange), contracts for distinction (CFD) and treasured metals. The platform claims to make use of well-known corporations resembling Bank of America, Citibank, Barclays and Deutsche Bank as its liquidity suppliers.

The web site is owned by Grand Services LTD and operated by Nordic Pearl Limited, the web site states. On its web site, FXG Invest additionally claims: “FXG Invest is not only a platform for buying and selling, but additionally an academic service for merchants all around the world. We can’t say, that the majority brokers may be proud to have it.”

Although the buying and selling supplier claims to be licensed in Marshall Islands, the place a whole lot of suspected scams declare to be registered at, the corporate gives the next tackle: Boulevard “Shipchenski Prohod” 43, 1113 Geo Milev, Sofia, Bulgaria.

Based on the warning from CONSOB immediately, it’s a good suggestion for customers to keep away from coping with this firm.

CONSOB provides warnings from different regulators

Also immediately, CONSOB added a listing of entities which have additionally been flagged by different monetary regulators, such because the Financial Conduct Authority (FCA), the Securities and Futures Commission (SFC) and the Swiss Financial Market Supervisory Authority (FINMA).

Among the warnings are Brighter Trade/Ingouten Ou, an alleged buying and selling platform the place shoppers can supposedly commerce various property starting from currencies (foreign exchange), commodities, shares, and indices.

This entity has attracted a whole lot of consideration from monetary regulators, having been flagged by the Australian Securities and Investments Commission (ASIC) and New Zealand’s FMA, as Finance Magnates reported.


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David is the founder of The firm originates business financing for companies of all size in the Canadian marketplace . Originations include business loans, term loans, asset based lines of credit, SR ED Tax credit financing , and receivable financing .

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