Italy’s Companies and Exchange Commission (CONSOB) has blocked advertisements for abusive financial services distributed via the Internet.
The ads improperly leveraged the image of prominent figures in the Italian institutional world, such as the Prime Minister, Giorgia Meloni, and the President of the Republic, Sergio Mattarella, as well as the image of a well recognizable brand such as Eni, to promote the initiatives of unauthorized intermediaries online through two websites.
The intervention is the first case of application of the new powers given to Consob by the “Capital Law,” under which the Financial Markets Regulatory and Supervisory Authority can order telecommunications service operators to black out sites that disseminate advertising campaigns related to abusive financial services, i.e., without authorization.
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