Resolution no. 21947

Order, pursuant to article 7-octies, paragraph 1, letter b) of Legislative Decree no. 58/1998 ("Consolidated Law on Finance") to cease the infringement of article 18 of the Consolidated Law on Finance carried out through the website https://venteragroup.com and the relevant page https://clientzone.venteragroup.com

HAVING REGARD TO Law no. 216 of 7 June 1974 and subsequent amendments and supplements;

HAVING REGARD TO Legislative Decree no. 58 of 24 February 1998 ("Consolidated Law on Finance") and subsequent amendments and supplements;

HAVING ESTABLISHED that, from checks on the web, it emerged that:

- the website https://venteragroup.com, which is active and also available in Italian, offers potential investors the possibility to trade forex instruments and CFDs on shares, indices, commodities and cryptocurrencies through a dedicated trading platform;

- in order to place such transactions, users must register with the website https://venteragroup.com, through a procedure that is also available for Italian users, and open a trading account and deposit relevant funds;

- on completion of the registration procedure, access is granted to the reserved area of the website https://clientzone.venteragroup.com, which contains a range of functionalities, including the use of the trading platform;

- seven types of account are mentioned on the website https://venteragroup.com, referred to as "Studente", "Avanzato", "Semi-Gestito", "Completamente gestito", "Conto Pro", "Conto Esperti" and "1 Million Club", depending on the minimum deposit required and the benefits promised;

- as for traceability, the bottom of the pages of the website https://venteragroup.com makes reference to the company Lexis Solution LTD with stated registered address in the Commonwealth of Dominica, while the "Terms and Conditions" section refers generically to Ventera Group, without any indication of the registered office;

WHEREAS the activity carried out through the https://venteragroup.com website and the relevant page https://clientzone.venteragroup.com constitutes the provision of investment services, as referred to in article 1, paragraph 5, of the Consolidated Law on Finance, insofar as users are offered the possibility through the aforementioned domains to open a trading account and place buy and/or sale orders on financial instruments;

WHEREAS the aforementioned activity, carried out through the website https://venteragroup.com and the relevant page https://clientzone.venteragroup.com, is still ongoing and is aimed at Italian investors, since the website is available in Italian;

WHEREAS such activity cannot be attributed to any entity that is authorised to provide investment services to the Italian public on a commercial basis; Specifically, the companies "Ventera Group" and Lexis Solution Ltd with stated registered office in the Commonwealth of Dominica are not listed on the list maintained by Consob pursuant to article 20 of the Consolidated Law on Finance;

HAVING REGARD TO the requirement to hold a relevant licence to provide investment services and activities as per article 18, paragraph 1, of the Consolidated Law on Finance, pursuant to which "The professional provision of investment services and activities to the public is reserved to Stock brokerage firms, EU investment firms, Italian banks, EU banks and non-EU firms";

HAVING ESTABLISHED, therefore, that the operations in question qualify as the professional provision of investment services to the Italian public, in infringement of art. 18, paragraph 1 of the Consolidated Law on Finance;

HAVING REGARD TO the fact that, according to the provisions of article 7-octies, letter b) of the Consolidated Law on Finance - "Powers to counteract abusive practices" - Consob "may, with regard to anyone who offers or carries out investment services or activities over the Internet without being qualified to do so pursuant to this decree: […] b) order the cessation of the infringement";

CONSIDERING it therefore necessary, in the light of the foregoing, to adopt this Resolution immediately for reasons of urgency;

RESOLVES:

To order the cessation of the infringement of article 18 of Legislative Decree no. 58/98 carried out through the website https://venteragroup.com and the relevant page https://clientzone.venteragroup.com, which constitutes the provision of investment services and activities to the Italian public.

This Resolution shall be brought to the attention of the concerned parties and published in the Consob Bulletin.

This measure may be appealed before the Regional Administrative Court of Lazio within 60 days of the date of service.

7 July 2021

THE CHAIRMAN
Digitally signed by
Paolo Savona