Resolution no. 23524

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.investiumgroups.co website and its page https://client.investiumgroups.co

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 checks on the web, it emerged that:

i. potential investors are offered the opportunity, through the www.investiumgroups.co website – which is active, also available in Italian and registered anonymously – to trade shares, options and ETFs, via a trading platform;

ii. in order to place trading transactions, users must register with the website and open a trading account; specifically, four different types of accounts are advertised on the website ("Standard","Premio" [Premium], "Oro" [Gold] and "Vip"), which differ according to the requested minimum deposit;

iii. to proceed with opening an account and trading activity, it is necessary to access the page https://client.investiumgroups.co;

iv. regarding traceability, the website www.investiumgroups.co contains generic references to "Investium" and the email address customer.service@investiumgroups.co is provided;

WHEREAS the activity carried out via the www.investiumgroups.co website and its https://client.investiumgroups.co page 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 opportunity, through the aforementioned domains, to open a trading account and place orders to buy and/or sell financial instruments;

WHEREAS the above activity, carried out through the website www.investiumgroups.co and the respective page https://client.investiumgroups.co, is still ongoing and is aimed at Italian investors, insofar as the above domains are available in Italian, and regarding the aforementioned site, reports of cold calling of Italian customers have been received;

WHEREAS the www.investiumgroups.co website and its page https://client.investiumgroups.co may not be attributed to any entity 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 activities in question qualify as the professional provision of investment services to the Italian public, in breach of Article 18, paragraph 1 of the Consolidated Law on Finance;

HAVING REGARD to the provisions of Article 7-octies, paragraph 1, letter b) of the Consolidated Law on Finance - "Powers to counteract unauthorised provision of investment services" - pursuant to which 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 that the 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 breach of Article 18 of Legislative Decree no. 58/98 conducted via the www.investiumgroups.co website and its https://client.investiumgroups.co page, constituted by 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.

16 April 2025

THE CHAIRMAN
Paolo Savona