Resolution no. 23105

Order, pursuant to article 7-octies, para. 1, letter b) of Legislative Decree no. 58/1998 ("Consolidated Law on Finance") to cease the infringement of art. 18 of the Consolidated Law on Finance carried out via the website https://int-active.io and its page https://int-ctive.solutions and https://clientportalpag.inractve.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, 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:

1. the website https://int-active.io - which is active and available in Italian - offers potential investors the possibility to trade CFDs on currencies, indices, shares and commodities via a trading platform;
2. in order to place trading transactions, users must register with the website , through a process that is also available to users connecting from Italy, and open a trading account; specifically, three different types of account are advertised on the website “Argento” (Silver), “Oro” (Gold), and “Platino” (Platinum) which differ, moreover, according to the minimum required deposit; After registering, users can access the reserved area of the website at https://int-ctive.solutions, where they can, among other things, deposit funds on the trading account and access a trading platform athttps://clientportalpag.inractve.com, which can also be accessed by clicking on the "Open WebTrader" button on the website's homepage;
3. with regard to traceability, the website contains references to "Interactive" with its alleged registered office in Ireland and its email address support@inter-activ.io;

HAVING REGARD TO Consob Resolution no. 22925 of 6 December 2023, whereby the order was given to cease the infringement of article 18 of the Consolidated Law on Finance conducted through the separate website https://inter-active.io and the page https://inter-active.solutions;

HAVING REGARD TO Consob Resolution no. 23021 of 20 February 2024, whereby the order was given to cease the infringement of article 18 of the Consolidated Law on Finance conducted through the separate website www.intr-active.com and the page https://intr-active.solutions and https://clientportalpage.intr-active.com;

WHEREAS, in addition to using a domain that is similar to the domain of the aforementioned websites https://inter-active.io and www.intr-active.com, the https://int-active.io website replicates the content and graphic format of the former ones;

WHEREAS the activity carried out via the website https://int-active.io and its pages https://int-ctive.solutions and https://clientportalpag.inractve.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 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 via the website https://int-active.io and its pages https://int-ctive.solutions and https://clientportalpag.inractve.com, is still ongoing and is aimed at Italian investors, given that said website is available in Italian, the absence of a mechanism to block registration by users attempting to register with the said website from Italy through Italian IP addresses has been noted, attempts to contact Italian investors have been reported and complaints have also been received from Italian investors;

WHEREAS the website https://int-active.io and the related pages https://int-ctive.solutions and https://clientportalpag.inractve.com cannot be attributed to any entity authorised to provide investment services to the Italian public;

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 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 over the Internet without being qualified to do so pursuant to this decree: […] b) order the cessation of the breach”;

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://int-active.io and its pages https://int-ctive.solutions and https://clientportalpag.inractve.com, 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 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.

8 May 2024

THE CHAIRMAN
Paolo Savona