Resolution no. 22004

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://euromts.uk

LA COMMISSIONE NAZIONALE PER LE SOCIETÀ E LA BORSA
[THE NATIONAL COMMISSION FOR COMPANIES AND THE STOCK EXCHANGE]

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:

i. potential investors are offered the opportunity through the website https://euromts.uk – which is active, registered anonymously and also available in Italian – to trade CFDs on raw materials, indexes and shares;

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

iii. in particular, the website https://euromts.uk mentions three types of accounts, referred to as "Initial", "Basic", "Pro", "Pro+", "Advanced" and "Perla", which vary according to the minimum deposit required and the benefits offered;

iv. as regards ownership, at the bottom of the pages of the website https://euromts.uk there is the following statement "this website is owned and operated by Dzikanta Limited", with registered offices in Saint Vincent and Grenadines; WHEREAS the activity carried out through the website https://euromts.uk constitutes the provision of investment services within the meaning of article 1, paragraph 5, of the Consolidated Law on Finance, given that users are offered the opportunity to open a trading account and place buy and/or sell orders on financial instruments;

WHEREAS the above activity, carried out through the website, https://euromts.uk, is still ongoing and addressed to Italian investors, given that the website https://euromts.uk is also available in Italian;

WHEREAS, Dzikanta Limited, with registered office in Saint Vincent and Grenadines, which is mentioned on the website https://euromts.uk, is not authorised to provide investment services to the Italian public, because it does not appear on the register kept by CONSOB pursuant to article 20 of the Consolidated Law on Finance;

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 performed through the website https://euromts.uk, consisting in offering and providing 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.

15 September 2021

THE CHAIRMAN
Paolo Savona