Resolution no. 21813

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://goldmanbanc.com

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 the checks carried out, it emerged that:

i. potential investors are offered the opportunity through the website https://goldmanbanc.com, which is active, to trade financial instruments, after opening an account;

ii. to carry out trading activity, a cash investment is required through payment into an account opened online; in particular, the advertised accounts "Micro", "Classic", "Silver", "Gold" and "Platinum" differ depending on the minimum deposit required and the services promised;

iii. the company Ozava Partners LTD, with alleged registered office in Saint Vincent and the Grenadines, is indicated in the website pages.

WHEREAS the activity carried out through this website can be classed as the provision of investment services as per art. 1, paragraph 5 of the Consolidated Law on Finance, insofar as clients are offered the opportunity of opening a trading account and placing buy and/or sell orders on financial instruments via an online platform;

WHEREAS the aforementioned activity, carried out through the website https://goldmanbanc.com, is still ongoing and is aimed at Italian investors, since there have been reports of cold calling retail investors in Italy;

WHEREAS the company named Ozava Partners LTD mentioned on the website is not authorised to provide investment services to the Italian public, since it is not listed in the register maintained by Consob pursuant to article 20 of the Consolidated Law on Finance;

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 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 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 activity" - Consob "may, with regard to anyone who offers or carries out investment services or investment services or activities over the Internet, without being qualified to do so pursuant to this decree: [...] b) order that such infringement must 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. 58/1998 carried out through the https://goldmanbanc.com website, consisting in the offering and provision of investment services and activities to the Italian public.

This Resolution shall be brought to the attention of the concerned parties and will be 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.

22 April 2021

THE CHAIRMAN
Paolo Savona