Resolution no. 23171

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 committed via the www.realpremiumeu.com website and its page https:///client.realpremiumeu.com

LA COMMISSIONE NAZIONALE PER LE SOCIETÀ E LA BORSA

HAVING REGARD to Law no. 216 of 7 June 1974, as subsequently amended and supplemented;

HAVING REGARD to Legislative Decree no. 58 of 24 February 1998 ("Consolidated Law on Finance"), as subsequently amended and supplemented;

HAVING ESTABLISHED that, from the checks carried out, it emerged that:

i. potential investors are offered the opportunity, through the website www.realpremiumeu.com - which is active, also available in Italian and registered anonymously - to trade forex, commodities, futures, shares, CFDs and digital currencies through a trading platform (Webtrader System);

ii. on the www.realpremiumeu.com website, users are offered the opportunity to open a trading account - after registering on the page https://client.realpremiumeu.com - among the five mentioned and named, depending on the minimum deposit required and the benefits offered, "Standard", "Silver", "Gold", "Platinum" and "VIP";

iii. with regard to the legal entity to which the website refers, it should be noted that, at the bottom of the pages of the website, it reads "Real PremiumEU.com is owned and managed by Real PremiumEU" with registered offices in Luxembourg, the United Kingdom and Hong Kong, in the "Contact Us" section there is the name "Real PremiumEU Markets" with an indication of the email addresses support@realpremiumeu.com, affiliates@realpremiumeu.com and rewards@realpremiumeu.com.

WHEREAS the activity carried out via the website www.realpremiumeu.com and the page https://client.realpremiumeu.com is deemed to constitute 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 on which it is possible to issue purchase and/or sale orders relating to financial instruments;

WHEREAS the above activity, carried out through the website www.realpremiumeu.com and its page https://client.realpremiumeu.com is still ongoing and is aimed at Italian investors, insofar as the website is active, available in Italian, reports of cold calling of Italian customers have been received and complaints have been received from Italian individuals who have complained, among other things, that they were unable to get their money back;

WHEREAS such activity carried out through the website www.realpremiumeu.com and the relevant page https://client.realpremiumeu.com cannot be attributed to any entity that is authorised to provide investment services to the Italian public.

HAVING REGARD to the fact that the provision of investment services and activities is reserved to licensed parties as referred to under article 18, paragraph 1, of the Consolidated Law on Finance, pursuant to which "The commercial provision of investment services and activities to the public is reserved to Italian investment 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 article 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 unauthorised provision of investment services" - Consob "may, with regard to anyone who offers or carries out investment services or activities through the Internet without being qualified pursuant to this decree: […] b) order that such infringement cease";

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 www.realpremiumeu.com and its page https://client.realpremiumeu.com, which constitutes the offer and 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.

19 June 2024

THE CHAIRMAN
Paolo Savona