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A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11CONSOB did not impose a worldwide ban on RichmondFX or GlobalFX. On November 20, 2019, Italy’s securities regulator ordered the entities linked to the two brands to stop offering investment services to the Italian public; on November 22, it announced that Italian internet providers had also been ordered to block access from Italy to the named websites. The record describes regulatory cessation and website-blocking measures, not company dissolution, license revocation, or a criminal fraud judgment.
What CONSOB actually ordered
CONSOB, Italy’s securities regulator, published two relevant resolutions dated November 20, 2019:
| Resolution | Entities named | Website |
|---|---|---|
| Resolution No. 21152 | Redal Ltd, Elit Property Vision Ltd, and Richmondfx Ltd | https://richmondfx.com |
| Resolution No. 21151 | Globalfx Ltd | https://globalfx.org |
CONSOB’s 2019 orders index describes both measures as orders to cease the infringement of Article 18 of Italy’s Consolidated Law on Finance, Legislative Decree No. 58/1998.
In practical terms, CONSOB ordered the named operators to stop offering or providing investment services and activities to people in Italy through those websites. The order was not worded as a general prohibition on every activity by the companies in every country.
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Why Article 18 mattered
Article 18 reserves the professional provision of investment services to appropriately authorized investment firms, banks, and qualifying non-EU firms. A business that markets or provides regulated investment services to the Italian public generally needs the required authorization or legal qualification, according to the English text of Legislative Decree No. 58/1998.
CONSOB relied on Article 7-octies, paragraph 1, letter b), as the enforcement power supporting the cessation orders. That provision allows the regulator to order a person offering or conducting investment services online without the necessary qualification to stop the infringement. CONSOB continues to use this legal framework in later online-enforcement decisions, including its explanation accompanying Resolution No. 23417.
The websites were also blocked from Italy
The cessation orders were followed by a separate access-blocking measure. In a November 22, 2019 announcement, CONSOB said it had ordered Italian internet-service providers to inhibit access from Italy to five websites offering financial services without the required authorization.
The list included:
- https://richmondfx.com
- https://globalfx.org
- https://rmt500.com
- https://thepremiumbrokers.com
- www.ajassetmanagement.com
CONSOB said implementation could take several days because internet providers needed time to apply the technical restrictions. The legal basis for this separate blocking power was Article 36, paragraph 2-terdecies, of Law No. 58 of June 28, 2019, commonly called the Growth Decree, or Decreto Crescita.
At the time of the November 22 announcement, CONSOB said the total number of websites blocked under this power had reached 88 since the authority received the power in July 2019. That figure referred to the wider blocking program—not just RichmondFX and GlobalFX. CONSOB reported in March 2026 that the total had reached 1,588; that later program-wide figure is not specific to this 2019 action.
RichmondFX and GlobalFX were part of a five-site action
The 2019 enforcement action covered five websites rather than only two. The other three cases were:
| Resolution | Entity | Website |
|---|---|---|
| 21153 | Rmt 500 Ltd | rmt500.com |
| 21154 | Premium Solutions Ltd | thepremiumbrokers.com |
| 21155 | Aj Asset Management | www.ajassetmanagement.com |
All five resolutions were dated November 20, 2019, and addressed the alleged unauthorized offering of investment services through the respective websites.
What “CONSOB banned RichmondFX and GlobalFX” gets wrong
News headlines and broker-review pages sometimes shorten the event to “CONSOB banned RichmondFX and GlobalFX.” That wording can imply consequences that the official documents do not establish.
It was not a worldwide ban
The access restriction concerned internet access from Italy. An Italian website-blocking order does not automatically prevent users in other countries from reaching a domain, nor does it amount to a worldwide regulatory prohibition.
It was not a company shutdown
The cited measures targeted the offering and provision of investment services to the Italian public through named websites. They did not dissolve Richmondfx Ltd, Globalfx Ltd, or the other entities, and they did not establish a worldwide corporate shutdown.
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It was not a license revocation
CONSOB’s orders addressed entities that were treated as offering investment services without the authorization required under Article 18. The orders were not described as the revocation of an Italian investment-services license.
It was not a criminal fraud judgment
The official measures establish a regulatory finding concerning unauthorized investment-services activity. They should not be rewritten as a criminal court conviction, a formal declaration that the firms were scams, or a finding of fraud unless separate evidence supports those claims.
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What this means for someone considering an online broker
For an Italian investor, the action was a serious warning sign: CONSOB said the websites could not lawfully offer the relevant investment services to the Italian public under the cited rules. A blocked website should not be treated as a normal inconvenience to work around.
Before depositing money with an online broker, check the regulator’s records rather than relying only on the broker’s website or a review page:
- Identify the exact legal entity behind the platform, not just its trading name or domain.
- Check whether that entity is authorized to provide the specific service in your country.
- Confirm the domain, brand, and contact details match the regulator’s record.
- Be cautious if the platform asks you to bypass a geographic block, use a different domain, or send funds to a personal account or unrelated company.
- Keep copies of account statements, payment records, emails, and withdrawal requests if money has already been deposited.
A regulator’s order does not by itself answer every question about customer losses, insolvency, recoverability of funds, or the legal status of an entity in another jurisdiction. Those issues require separate evidence and, where appropriate, advice from a qualified professional.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Where to verify the CONSOB record
The relevant documents can be found through CONSOB’s own website:
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- CONSOB and its activities → Orders 2019: the index containing Resolutions 21151 and 21152 and the other three related orders.
- CONSOB and its activities → Press releases 2019: the November 22, 2019 announcement about blocking access to the five websites.
- CONSOB and its activities → Warnings → Latest warnings: the regulator’s current explanation of its website-blocking powers and later actions.
CONSOB’s online-blocking program has expanded substantially since 2019. The total reported in March 2026 was 1,588 websites blocked since July 2019; it should not be confused with the 88 cited in the November 22, 2019 announcement or with the specific action against RichmondFX and GlobalFX.
FAQ
Did CONSOB ban RichmondFX and GlobalFX?
CONSOB ordered the entities linked to RichmondFX and GlobalFX to stop offering investment services to the Italian public and ordered Italian internet providers to block access from Italy to the named websites. Calling this a worldwide ban would be inaccurate.
When did CONSOB take action?
The cessation orders were issued on November 20, 2019. CONSOB announced the related website-access blocking measure on November 22, 2019.
Which companies were named in the RichmondFX order?
Resolution No. 21152 concerned Redal Ltd, Elit Property Vision Ltd, and Richmondfx Ltd, operating through richmondfx.com.
Which company was named in the GlobalFX order?
Resolution No. 21151 concerned Globalfx Ltd, operating through globalfx.org.
Did CONSOB find RichmondFX and GlobalFX guilty of fraud?
The cited CONSOB measures concerned the alleged unauthorized offering or provision of investment services under Article 18. They were regulatory cessation orders, not criminal fraud judgments.
Can people outside Italy access the websites?
The CONSOB blocking measure was directed at access from Italy. It was not a worldwide internet block, although the websites’ availability and legal status may have changed for other reasons.
The Bottom Line
On November 20, 2019, CONSOB ordered Richmondfx Ltd and its associated entities Redal Ltd and Elit Property Vision Ltd, together with Globalfx Ltd, to stop offering investment services to the Italian public through richmondfx.com and globalfx.org. On November 22, CONSOB announced that Italian internet providers had also been ordered to block access from Italy to those websites. The record supports describing this as an Italian regulatory cessation and website-blocking action—not a worldwide ban, company dissolution, license revocation, or criminal fraud finding.
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