News of the week:
Consob's annual meeting with the financial market
Consob’s Strategic Plan 2025-2027
Consob, "Il momento è cri(p)tico" on stage at the Salone del Risparmio - For three days the Alternative Financial Dispute Resolution Scheme came face-to-face with the public
Watch for scams! Financial fraud: Consob blacks out 9 unauthorised websites

Commission decisions
Management decision

- NEWS OF THE WEEK -

On Friday 20 June 2025, CONSOB's annual meeting with the financial market will be held. The meeting is at 11:00 in Milan in Piazza Affari at the headquarters of Borsa Italiana in Palazzo Mezzanotte. The meeting will bring the celebrations for the 50^th Anniversary of the Authority to a close. The live stream will be provided.

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Published today Consob's Strategic Plan for the three-year period 2025 - 2027, articulated according to two main lines of development:

1) promoting change at Consob, fully implementing the Institute's internal reorganization launched in October 2024;

2) fostering the development of financial markets to support the country's economic growth.

The Plan, while reaffirming that Consob's goal is to protect savings and channel them into productive activity, will strengthen the use of the tools assigned to it by law to ensure transparency and fairness of behaviour by market participants.

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Financial education took to the stage at the Salone del Risparmio with Il momento è cri(p)tico [It's a critical(cryptic) time], a conference-show organised by Consob: from barter to blockchain, via online scams and promises of easy earnings, to the crypto world.

Irony, entertainment and training were the components of the event held on Thursday 17 April, during the third and final day of the Salone del Risparmio, open not only to insiders from the asset management industry but also to the general public.

Throughout the Exhibition, the Alternative Financial Dispute Resolution Scheme (ACF), the body for out-of-court settlement of disputes between intermediaries and retail investors established at Consob, was available to visitors with a dedicated exhibition space, where it was possible, among other things, to find out about the ACF's role and its activities and how to file appeals.

Consob was also present at the Salone del Risparmio with two speeches. On Wednesday 16 April, the Director General, Luca Filippa, was among the speakers at the conference "AI and investment management, a strategy between risks and opportunities". On Thursday 17 April, the Secretary General, Nadia Linciano, participated in the event on "New and old solutions. Does financial education really work?” 

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Consob has ordered the black-out of 9 new websites that offer financial services/financial products illegally: 8 illegal financial intermediation websites and 1 website through which an offer of financial products is carried out in the absence of a prospectus.

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree" Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), relating to the black-out of the sites of abusive financial intermediaries, as well as of the power introduced by the Law no. 8 of 28 February 2020, Article no. 4, paragraph 3-bis, with reference to the black-out of the website through which the illegal offer is carried out.

Below are the websites Consob has ordered to be blacked out:

- “Geneve Capital Invest” (website https://genevecapinvest.com and related pages https://webtrader.genevemarkets.com and https://webtrader.marketsgenevecapital.com);

-“Investium Group” (website www.investiumgroups.co and related page https://client.investiumgroups.co);

- “ITradingFX” (website https://itradingfx.net and pages https://account.itradingfx.net and https://tradingapi.chartstrading.io);

- “Ustrade24” (website https://ustrade24.com and related page https://my.ustrade24.com);

- “AlphaWealtExpertise” (websites www.alphawealtexpertise.com and www.alphawealth-expertise.com and their respective pages https://client.alphawealtexpertise.com and https://client.alphawealth-expertise.com);

- “NEX TRADE” (website www.nextradeltd.com);

-“XPTRADERS” (website https://xptraders.com and related page https://trading.xptraders.com);

- “FortiCard Limited” (website https://forti-card.com).

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 1300.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviours, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that on the website www.consob.it there is a section on the homepage, "Watch for Scams!", providing useful information to warn investors against financially abusive initiatives.

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Stability Sim Spa, with its registered office in Milan, has been included in the register referred to in Article 20, paragraph 1 of Legislative Decree no. 58 of 24 February 1998. The company is authorised to exercise the investment services of portfolio management and investment advice, referred to in Article 1, paragraph 5, letters d) and f) of Legislative Decree no. 58 of 24 February 1998.

Authorisation to provide the above investment services is granted with the following operating procedures: “without holding, even temporarily, cash and financial instruments belonging to customers and without assumption of risks by the Company” (Resolution no. 23522 of 16 April 2025);

Order, pursuant to Article 7-octies, letter b) of Italian Legislative Decree no. 58 of 24 February 1998 (Consolidated Law on Finance) to cease infringement of Article 18 of said Consolidated Law on Finance, put in place by:

- “Geneve Capital Invest” via the https://genevecapinvest.com website and its https://webtrader.genevemarkets.com and https://webtrader.marketsgenevecapital.com pages (resolution no. 23530 of 16 April 2025);

- “Investium Group” via the www.investiumgroups.co website and its https://client.investiumgroups.co page (resolution no. 23524 of 16 April 2025);

- "ITradingFX" via the https://itradingfx.net website and https://account.itradingfx.net and https://tradingapi.chartstrading.io pages (resolution no. 23527 of 16 April 2025);

- “Ustrade24” via the https://ustrade24.com website and its https://my.ustrade24.com page (resolution no. 23528 of 16 April 2025);

- “AlphaWealtExpertise” via the www.alphawealtexpertise.com and www.alphawealth-expertise.com websites and their respective https://client.alphawealtexpertise.com and https://client.alphawealth-expertise.com pages (resolution no. 23529 of 16 April 2025);

- “Nex Trade” via the www.nextradeltd.com website (resolution no. 23526 of 16 April 2025);

- “Xptraders” via the https://xptraders.com website and its https://trading.xptraders.com page (resolution no. 23525 of 16 April 2025).

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The Head of Consob's Issuers' Supervisory Division has determined the minimum shareholding for the submission of slates of candidates for election of the board of directors and internal control bodies of the listed company Piquadro Spa. Unless the companies' by-laws prescribe a lower shareholding, the threshold has been set at 2.5%. The full text of the management decision (no. 129 of 16 April 2025) is available on the www.consob.it website, together with a table setting out the criteria used to determine the qualifying shareholdings.

The Head of Consob's Intermediaries Supervision and Investor Protection Department has granted Walliance Sim Spa's application for forfeiture by express waiver of its authorization to provide investment services of placement without irrevocable commitment to the issuer and reception and transmission of customer orders, as per Article No. 1(5)(c-bis) and (e) of Legislative Decree No. 58/1998, and its removal from the Sim register.

The Firm continues to be authorized, pursuant to Article No. 4-sexies.1 of Legislative Decree No. 58/1998 and Article No. 12 of Regulation (EU) 2020/1503, as a crowdfunding service provider with respect to the services set forth in Article No. 2, paragraph 1, letter a), sub-paragraph i) and sub-paragraph ii) of the aforesaid Regulation (EU) 2020/1503 under the new corporate name of Walliance Group Spa. The full text of Executive Determination No. 130 of 17 April 2025 is available on the website www.consob.it.

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