Weekly newsletter - year XXVII - No. 21 - 31 May 2021

News of the week:
Abusive financial services: Consob blacks out 5 abusive sites
Save The Date: Consob's annual meeting with the financial market to be streamed live at 11.00 am on Monday 14 June 2021
Amendments to the Regulations concerning the Securities and Financial Ombudsman - ACF
Ipo The Italian Sea Group Spa: Consob approves the listing prospectus
Pininfarina Spa: Consob approves the prospectus for admission to listing for new shares
Notice regarding the guidelines issued by ESMA concerning the reporting of financing transactions through securities (SFT) pursuant to Articles 4 and 12 of EU Regulation no. 2365/2015
SAVE THE DATE: Financial Data Portability: Presentation of the Consob notebook of the Fintech series
SAVE THE DATE: The Non-Financial Reporting of Italian Listed Companies: presentation of the 3rd Consob Report - on Friday 11 June at 10.30 am
Hearing of the Consob Secretary General at the Parliamentary Inquiry Committee on the Banking and Financial System
Market Operators and Investors Consultation Committee (Comi) at Consob: the members appointed for the two-year period 2021-2023
Eureka!: digital borders. Consob webinar cycle, fifth seminar
Investor protection warnings from other regulatory authorities

Commission decisions

- NEWS OF THE WEEK -

Consob has ordered the black-out of 5 new websites that offer financial services illegally.

The commission availed itself of the new powers resulting from the "Decreto Crescita" ("Growth Decree"; Law no. 58 of 28 June 2019, article 36, paragraph 2-terdecies), on the basis of which Consob can order internet service providers to block access from Italy to websites offering financial services without the proper authorization.

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

- Atlasfx (website https://atlasfx.co);

- S.P. Inc (website www.quantumfx.eu and its page https://client.bbgroupfx.site);

- Digital Exchange Limited and Securex Plus Solution EOOD (website www.dgxlimited.io);

- Think Market 247 Ltd and RL Ltd (website https://thinkmarket247.net and its page https://trade.thinkmarket247.net);

- Finlay (website https://finlay.world and its pages https://finlay.live and https://webtrader.finlay.live).

The number of sites 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 457.

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 one’s savings: these include, for websites that offer financial services, checking in advance that the operator with whom you are investing is authorised, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that there is a section on the homepage of its website www.consob.it entitled “Be aware of fraud!“, providing useful information to warn investors against financially abusive initiatives.

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On Monday, 14 June, 2021, at 11:00 am, at the headquarters in Rome, the President of Consob, Paolo Savona, will hold the annual meeting with the financial market on the occasion of the presentation of the Consob Report for 2020.

In line with the indications of the national and local authorities for the containment of the epidemiological emergency, the event will take place exclusively in streaming mode.

The event will be available on the Commission's website www.consob.it and live on RAI 2 TV channel.

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As a result of the public consultation, Consob, taking into account the opinion of the Market Operators and Investors Committee ("COMI"), by resolution no. 21867 of 26 May 2021, has made some amendments to the Regulations concerning the Securities and Financial Ombudsman ("ACF Regulation" or "Regulation"), approved by resolution no. 19602 of 4 May 2016.

The aforementioned amendments to the ACF Regulation – adopted following the periodic review carried out, pursuant to Article 8 of the Regulation on procedures for the adoption of acts of general regulation approved by resolution no. 19654 of 5 July 2016, taking into account the operational needs that emerged in the first years of activity of the Financial Dispute Ombudsman ("ACF") and the data relating to the proceedings processed and concluded - are mainly aimed at simplifying the proceedings before the ACF and improving its functioning and, in summary:

- aligning the definition of "intermediaries", relevant for the purposes of the Regulation, with the new definitions of "portal operators" and "entities authorised to distribute insurance" introduced following the most recent amendments to the Consolidated Law on Finance;

- expressly extending the scope of operation of the ACF to disputes relating to the violation of the obligation to deliver to the investor the key information document referred to in Articles 13 and 14 of Regulation (EU) no. 1286/2014;

- better defining the scope of operation of the ACF, referring it to disputes relating to transactions or conduct carried out within the tenth year preceding the date of filing of the appeal;

- introducing, as cases of inadmissibility of the appeal, the pending of arbitral or judicial proceedings, the existence of a previous substantive decision taken by the ACF or the outcome of a judicial or arbitral proceeding;

- reiterating that the filing of the appeal, the cross-examination and the exchange of documentation must take place exclusively through the electronic system, also requiring the parties to make use of the forms that will be made available on the ACF website;

- introducing provisions aimed at facilitating the amicable settlement of the dispute and the fulfilment of decisions (such as the possibility for the parties to request a suspension of the proceedings in order to reach an agreement; the termination of the proceedings in the event of reaching an agreement or the full fulfilment of the claim; the postponement of the publication of the notice of non-compliance in the event of the opening of negotiations aimed at reaching an agreement on the execution of the decision; the possibility of late fulfilment with the consequent cancellation of the notice of non-compliance; the elimination or reduction of the default contribution payable by the intermediary in the presence of a conciliation proposal, rejected by the applicant, for amounts equal to or greater than those recognised by the ACF in the decision);

- regulating more precisely the regime of deadlines for the conclusion of the proceedings in order to speed up the decision- making phase.

Consob has decided not to introduce the system of reimbursement of defence expenses on the assumption that, even in the absence of an express regulatory provision, such expenses can be settled in favour of the appellant - if the conditions are met - as a component of the damage suffered.

The amendments made to the ACF Regulation will enter into force on 1 October 2021.

They will apply to proceedings initiated with an appeal lodged after that date of entry into force, with the exception of amendments relating to the rules on the enforcement of the decision (Article 16 of the Regulation) which will apply to decisions taken from the date of entry into force, even if they relate to proceedings initiated with an appeal lodged before that date.

The resolution extends until 30 September 2021 the period referred to in Article 2, paragraph 2, of Consob resolution no. 19783 of 23 November 201 6, already extended until 1 July 2021 by Article 1, paragraph 1, of Consob resolution no. 21666 of 22 December 202 0.

For more information see the website www.acf.consob.it.

Other documentation relating to the results of the consultation of 19 December 2019:

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Consob has approved the prospectus for admission to trading on the Mercato Telematico Azionario (MTA), organised and managed by Borsa Italiana, of the ordinary shares of The Italian Sea Group Spa (TISG).

Borsa Italiana issued the order for admission to listing on the MTA on 24 May last.

On the same date Borsa Italiana, following a request from the issuer, granted a derogation from the minimum level of floating stock provided for by the Stock Exchange Regulations for the admission to listing (25% of the share capital), establishing for the issuer the need to reach a floating stock at least equal to 20.19% of the share capital before any exercise of the greenshoe option.

The issuer is a specialised nautical operator: a) with its own shipbuilding division, in the design, production and sale of luxury superyachts; b) with its own NCA Refit division, in the maintenance and renewal of the internal or external appearance of yachts - both on boats made by the same issuer and on - motor and sailing - boats made by third party manufacturers.

The operation, aimed at the admission to trading of TISG's ordinary shares on the MTA, provides for a bid to subscribe for and sell ordinary shares reserved exclusively for institutional investors in Italy and foreign institutional investors and does not provide for any bid to the retail public.

The institutional bid has a maximum of 18,000,000 ordinary shares, equal to 41.37% of the current share capital, of which:

(i) a maximum of 9,500,000 ordinary shares, resulting from the capital increase approved by the Board of Directors of TISG on 21 May 2021;

(ii) a maximum of 8,500,000 ordinary shares, sold by the selling shareholder GC Holding Spa (of which 2,000,000 in case of exercise of the right of increase).

It is also envisaged that the selling shareholder will grant an option in favour of the joint global coordinators to borrow a maximum of 1,600,000 additional shares (1,800,000 in case of exercise of the power of increase), corresponding to approximately 10% of the number of shares subject to the bid for the purpose of a possible over-allotment within the institutional placement.

It is also envisaged that the selling shareholder will grant a purchase option in favour of the joint global coordinators at the bid price of a maximum of 1,600,000 shares (1,800,000 in case of exercise of the power of increase), corresponding to approximately 10% of the number of shares subject to the the institutional placement (greenshoe).

If the over allotment option and the greenshoe option are exercised in full, the ordinary shares offered will represent a total of about 37.4% of the issuer's share capital.

The bid price will be determined according to the open price mechanism. The issuer and the selling shareholder, also on the basis of analyses carried out by the coordinators of the bid, have identified an indicative valuation range of the economic capital of the issuer between about 181 million euro and about 246 million euro, equal to a minimum of 4.15 euro per share and a maximum of 5.66 euro per share.

The bid, reserved for institutional investors, began on 26 May 2021 and will end on 3 June 2021, unless extended or closed early, said event to be communicated by the issuer through a press release published on its website (www.theitalianseagroup.com).

The registration document and the information note contain in the relevant chapters "risk factors" the significant and specific risks relating to the issuer and the business sector in which he operates, the financial situation, as well as the bid and trading of new shares.

It also shows the risks associated with the global economy in general as a result of the effects of Covid-19 and the effects on the issuer's operations.

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Consob has approved the prospectus in tripartite format (registration document, securities note and summary note) aimed at the offer to the public and the admission to trading on the Mercato Telematico Azionario (MTA), organised and managed by the Italian Stock Exchange, of newly issued ordinary shares of Pininfarina Spa.

Pininfarina Group operates in the sector of the provision of services in the field of style and engineering to car manufacturers, consumer goods manufacturers and original equipment manufacturers. In particular, the group carries out its activities in two sectors: (i) the style sector, relating to design and industrial design activities and (ii) the engineering sector, relating to engineering activities and services offered to operators in the automotive sector.

Starting from the second half of 2018, the activity of the Pininfarina group was characterised by a significant reduction in profit margins, mainly due to the negative economic cycle of the automotive market worldwide which caused liquidity problems for the operators of the automotive industry and consequently a reduction in the sales volumes of the group. On 14 December 2015, the issuer signed a debt restructuring agreement with certain lending institutions that provides for the respect of a financial parameter (consolidated shareholders' equity of at least €30 million) as at 31 March of each year until the expiry of the restructuring agreement, i.e. 31 December 2025 ("restructuring agreement"). During 2020, the activity of the Pininfarina group, already affected by the decline in demand for services in the reference sectors, was also affected by the effects of the Covid-19 pandemic which, starting from the first months of 2020, led to further significant negative impacts on the economic and financial situation of that group.

The prospectus concerns the offer to the public and the admission to trading on the MTA of Pininfarina's ordinary shares resulting from the capital increase approved by the shareholders' meeting.

On 16 March 2021, the Extraordinary Shareholders' Meeting of the issuer resolved to grant, pursuant to Article 2443 of the Italian Civil Code, the power to the Board of Directors to increase the issuer's share capital for payment and in divisible form, in one or more times, by the deadline of 31 December 2021 (the issuer's Board of Directors, held on 24 May 2021, in exercising this proxy established that the capital increase is to be offered as an option to shareholders by the final deadline of 30 September 2021), for a maximum total amount of 27 million euros, including any share premium, by issuing ordinary shares with no par value and the same characteristics as those in circulation, to be offered as an option to those entitled ("capital increase").

PF Holdings B.V., holder of a 76.154% stake in the share capital of the issuer, has undertaken to subscribe to the capital increase for 20 million euros, to be carried out by converting into shares a payment on account of a future capital increase made for the same amount on 26 November 2020.

The bid, as established by resolution of the issuer's Board of Directors of 24 May 2021, for a total value of a maximum of 26,050,161.60 euro, concerns the maximum 27,135,585 shares deriving from the capital increase, equal to 33.33% of the share capital assuming the full subscription and release of the shares.

The shares will be offered as an option to shareholders at an issue price of €0.96 per share (of which €0.87 as a share premium), based on an option ratio of 1 share for every 2 shares held.

The option period runs from 31 December to 21 December 2021, inclusive.

The option rights giving the right to subscribe for the shares must be exercised, under penalty of forfeiture, during the option period through authorised intermediaries belonging to the centralised management system who are required to give the relevant instructions to Monte Titoli by 2:00 pm (Italian time zone) on the last day of the option period.

The option rights will be tradable on the Electronic Stock Market from 31 May to 15 June 2021 inclusive.

Option rights not exercised will be offered within the month following the expiry by the issuer on the stock exchange. Within the day before the start of any bid on the Stock Exchange, a notice will be published on the issuer's website (www.pininfarina.it) and in at least one national daily newspaper, indicating the number of unexercised option rights to be offered on the Stock Exchange and the dates of the meetings in which the bid on the Stock Exchange will be made.

The registration document and the information note contain in the relevant chapters "risk factors" the significant and specific risks relating to the issuer and the group and the business sector in which they operate as well as the bid and the trading of the new shares. In particular, the risks associated with the negative economic, equity and financial performance of the group, the uncertainties connected with the spread of the Covid-19 pandemic and the going concern are reported.

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Consob, with Notice of 27 May 2021, complies with the Guidelines issued by ESM A, the European Supervisory Authority, on the reporting of financing transactions through securities (SFT), pursuant to Articles 4 and 12 of the Regulation (EU) 2015/2365 on the transparency of securities financing transactions regulation and of reuse (SFTR).

On 6 January 2020, with a view to implementing the provisions of the SFTR Regulation, ESMA published, following public consultation, the Guidelines on "Reporting of Securities Financing Transactions (SFTs) pursuant to Articles 4 and 12 of the SFTR", which provide operational guidance on the implementation of the reporting provisions and on the transparency, collection and retention of data referred to in Articles 4 and 12 of the SFTR and related implementing provisions referred to in EU Delegated Regulations no. 356/2019, no. 357/2019, no. 358/2019 and EU Implementing Regulation no. 363/2019.

The Guidelines, issued pursuant to Article 16 of the Regulation (EU) no. 1095/2010 (the "ESMA Regulation"), were published in Italian on the website of the European Authority on 29 March 2021.

SFT counterparties are required to comply with these Guidelines.

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On 8 June, from 9:30 am to 12:00 pm, a conference will be held to present Consob's new Fintech Notebook on "Financial Data Portability".

The work will be opened by Consob President Paolo Savona.

This will be followed by the introduction by Anna Genovese (Consob Commissioner) and Valeria Falce (Current professor of Economic Law, European University of Rome).

The work will be moderated by Paolo Ciocca (Commissioner Consob).

Attendance is free of charge, but attendees are asked to register online: https://www.consob.it/web/area-pubblica/iscrizione-seminari.

The event will be streamed on the GoToMeeting platform; the link will be sent close to the event to those who have registered.

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On 11 June, from 10.30 am to 12.00 pm, the 3rd Consob Report on the non-financial reporting of Italian listed companies will be presented.

The Report, which will be available on the Consob website at the end of the presentation, presents an analysis of the non-financial reporting of Italian listed companies, following the application of Legislative Decree 254/2016 transposing Directive 2014/95/EU.

Consob Commissioner Carmine Di Noia will speak. The detailed programme of the event will be available shortly.

Attendance is free of charge, but attendees are asked to register online: https://www.consob.it/web/area-pubblica/iscrizione-seminari.

The event will be streamed on the GoToMeeting platform; the link will be sent close to the event to those who have registered.

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The Consob Secretary General, Maria Antonietta Scopelliti, spoke at a hearing on 25 May at the Parliamentary Inquiry Committee on the Banking and Financial System, Room of the Fourth Floor of Palazzo San Macuto, on the GameStop phenomenon and the impact of online trading on the financial markets and savings.

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The Commission, by resolution no. 21861 of 26 May 2021, appointed for the two-year period 2021/2023 the thirty members of the Market Operators and Investors Committee (Comi), the advisory body set up by Consob as a forum for permanent dialogue and discussion with financial market players and the academic world (see "Consob Informa" no. 24/2018).

The Committee, which meets at the Consob headquarters in Milan at least every three months, is called upon to express its opinion on regulatory issues in matters falling within the competence of the Institution, as well as on the strategic plan.

The term of office will be two years and may only be renewed once. Participation in the Committee is free of charge.

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The fifth seminar of the webinar cycle entitled "Consob – Eureka!" on the topics of artificial intelligence applicable to the field of financial market regulation and supervision will be held today, 7 June, from 4.00 pm to 5.30 pm.

The fifth seminar will deal with the topic of "financial systems networks" and will be held by Prof. Guido Caldarelli (Ca’ Foscari University).

Participation in the webinars is reserved for Consob employees and those of other financial sector institutions (Bank of Italy, IVASS, etc.) that have been involved through institutional channels.

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The supervisory authorities of the United Kingdom (Financial Conduct Authority - FCA), Hong Kong (Securities and Futures Commission - SFC), Luxembourg (Commission de Surveillance du Secteur Financier - CSSF), New Zealand (Financial Markets Authority - FMA New Zealand), Poland (Polish Financial Supervision Authority - KNF), and Switzerland (Swiss Financial Market Supervisory Authority - FINMA), Jersey (Jersey Financial Services Commission - JFSC) and Spain (Comisión Nacional del Mercado de Valores - CNMV), report the companies and websites offering investment, financial and insurance services without the required authorisations.

Reported by the FCA:

• newsletter@gateparkwayuk.com;
• newsletter@armchairinvestinternational.com;
• Credit Suisse Bonds / Suisse Capital Wealth Bonds (www.cs-co.uk, www.documents.cs-co.uk, www.credit-suisse.pru-co.uk, www.documents.credit-suisse.pru-co.uk), clone of an authorised company;
• Burstein Capital Associates Llc (www.bursteincapitalassoc.com);
• Verge Capital (www.vergecapitallimiteduk.com, www.vergecapitallimited.co.uk), clone of an authorised company;
• Elevation Trading (https://elevation-trading.co.uk), clone of an authorised company;
• Simple Loans (www.simple-loan.co.uk);
• Super Saver Rates (https://www.supersaverrates.com/, https://www.supersaverrates.com);
• Merger Masters International Inc (www.mergermastersinternational.com);
• Comparebondinvestments.co.uk;
• Solutions Markets (https://tng-neew.com/en/, http://www.myneew.life/, https://my-cryptounit.com/en/);
• Skyway / Neew (New Economic Evolution of the World), (https://tng-neew.com/en/, http://www.myneew.life/, https://my-cryptounit.com/en);
• Cryptosworld (https://cryptosworld.trade);
• Newton Patrimoine (www.newtonpatrimoine.com), clone of an authorised company;
• Globalfxbtctrade (https://globalfxbtctrade.com);
• MangroupFX (https://mangroupfx.com), clone of an authorised company;
• Clob Professional Advance Group Plc (www.clobprofessionaladvance.com), clone of a licensed company;
• Razer Markets (https://www.razermarkets.com);
• Top UK Investments (http://top-ukinvestments.com);
• Solid Marketz (www.solidmarketz.com);
• Trail Blast (www.trailblast.com);
• Capital Finance Strategies Ltd (Ph.: +4 4203 095 4309, +1 514700 6440), clone of an authorised company;
• ING Bank (www.ingdirect-uk.com, https://ing.apply-co.uk), clone of an authorised company;
• HeliFX (https://helifx.com);
• Check a Bond (https://www.checkabond.co.uk);
• What Bond (https://www.whatbond.co.uk);
• Compare Rates Uk (http://comparerates-uk.com);
• Fixed Rates Finder (https://fixedratesfinder.co.uk);
• Investment Comparison Online (http://investmentcomparisononline.com);
• Investment Compare (http://investment-compare.com).

Reported by the SFC:

• Branwell International Limited (www.branwellinternational.com);
• Dunbar Consultants Limited (www.dunbarconsultantslimited.com).

Reported by the CSSF:

• 53Management (www.fifty3management.com);
• Cap International (www.cap-international.co).

Reported by the FMA - (New Zealand):

• Reckoninvestments.com (https://reckoninvestments.com);
• Walton Chase (email: compliance@waltonchase.com);
• TopMarketCap (www.topmarketcap.com);
• Equitycorp.org (www.equitycorp.org);
• Business Choice Partners Group Limited (https://www.bcpgltdmarkets.com/,http://www.bcpgltd.com, https://www.richnessep.com/en/index.html);
• Aotearoa Green Sustainable Co-Op -Agso (https://agso.co.nz);
• Beaventrusteesltd.com;
• Cash Forex Group / CashFx (https://cashfxgroup.com);
• Haggart, Eckhoff and Associates (haggarteckhoff.com);
• Baycaminvestment.com;
• BitQt (https://bitqt-app.com/, https://bitqt.org/#);
• Ghctrades.com and in-tan.com (www.ghctrades.com, www.in-tan.com);
• www.horizonlinelimited.com;
• www.canztrades.com, clone of a licensed company;
• Hargreaves Lansdown (Ph.: +4 41173251906, +3 4645758956, +4 401173252039, +4 41173251747, Email: legal@hl-aml.com, clientservices@hl-aml.com, client@hl-clients.com, enquiry@hl-private.com), clone of an authorised company. Previously reported by the FCA (see "Consob Informa" no. 35/2016 of 19 September 2016).
• Aop Professional Advance Group Plc (https://aopprofessionaladvance.com), clone of a licensed company;
• Equity-Broker / equity-broker.io (www.equity-broker.io), clone of an authorised company;
• FX Live (www.fx-live.com, https://client.fx-live.com/#/account-info);
• Advance Stox (www.advancestox.com);
• Bitcoin Trade (www.bitcoin-trade.io);
• Mannet Capital Management (www.mannetcapitalmanagement.co.uk), clone of a licensed company;
• Bnf Assurance (https://www.bnfagroupeu.com, www.bnfassurance.com), clone of an authorised company;
• Tanner Automotive Ltd / Tanner Cars Ltd (www.tannerautomotiveltd.com), clone of a licensed company;
• Tradesto (www.tradesto.com);
• The Provectus Group (www.provectustrading.com);
• Starcapital (www.srcapital.io);
• Narsq (www.narsq.com);
• Better Fixed Rate Returns (http://betterfixedratereturns.com).

Reported by the KNF:

• UnixBroker / Z Line Corporation Ltd (https://unixbroker.com);
• Marketlin Ltd. and Duo Stream Ltd (www.fenix-funds.pro).

Reported by FINMA:

• Swiss Financal Management Trust Ag (www.swissfinancialmanagementtrust.com);
• www.stoneedgemanagement.com.

Reported by the JFSC:

• Clifton Consulting Group Llc (http://cliftonconsultinggroupllc.com);
• Vantage Underwriting (www.vantage-underwriting.com);
• CashFx;
• Hugo De Rick.

Reported by the CNMV:

• Biteq / Biteq Conum Ltd / Biteq Conum Jsc (https://biteq.world, www.biteq.net);
• Universal Real Properties 2021 Srl (www.bullrun.io);
• Bestproducts Ltd (www.finbinance.com);
• Green Trade Capital Ltd (www.greentradecapital.com);
• Revena Capital Trading Company Sl (https://revenacapital.com);
• Swissfuturefx (https://swissfuture-fx.com);
• Trading Network / Wabbit Group Ltd (https://tradingnetwork.co);
• Uniteex / Demure Consulting Ltd (https://uniteex.co). Already the subject of Consob resolution no. 21845 of 12 May 2021. Subsequently, the authority using its powers deriving from the "Decreto Crescita" (Growth decree) (Law no. 58 of 28 June 2019, article 36, paragraph 2-terdecies), ordered internet service providers to block access from Italy to the website https://uniteex.co and its page https://client.uniteex.co. (see "Consob Informa" no. 19/2021 of 17 May 2021).

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• Amendments to the Regulations concerning the Securities and Financial Ombudsman - ACF, approved by resolution no. 19602 of 4 May 2016 (resolution no. 21867 of 26 May 2021).

• The thirty members of the Market Operators and Investors Committee (Comi) were appointed for the two-year period 2021/2023 (resolution no. 21861 of 26 May 2021).

• The prospectus in tripartite format (registration document, securities note and summary note) aimed at the offer to the public and the admission to trading on the Mercato Telematico Azionario (MTA), organised and managed by the Italian Stock Exchange, of ordinary shares newly issued by Pininfarina Spa has been approved (decision of 26 May 2021)

• The prospectus for the admission to trading of the ordinary shares of The Italian Sea Group Spa on the Mercato Telematico Azionario, organised and managed by Borsa Italiana has been approved (decision of 26 May 2021).

• Turquoise Global Holdings Ltd is authorised, pursuant to Article 28, paragraph 6, of the Consolidated Law on Finance, has been authorised to carry out the service referred to in Article 1, paragraph 5, letter g) of the Consolidated Law on Finance under the freedom to provide services in Italy, within the limits and under the conditions provided for by the Consolidated Law on Finance, and, in particular, to operate the managed multilateral trading facility in Italy, called "Turquoise". Turquoise Global Holdings Ltd is authorised to operate in Italy in accordance with the provisions applicable to third-country investment firms pursuant to the Consolidated Law on Finance and is subject to the supervisory regime laid down therein (resolution no. 21868 of 27 May 202 1).

• The inclusion of Agri4crowd Srl, with registered office in Milan, in the register of operators as per article 50-quinquies, of legislative decree no. 58 of 24 February 1998 was authorised (resolution no. 21852 of 19 May 2021).

 

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

- Atlasfx through the website https://atlasfx.co (resolution no. 21865 of 26 May 2021);

- S.P. Inc (website www.quantumfx.eu and its page https://client.bbgroupfx.site (resolution no. 21864 of 26 May 2021);

- Digital Exchange Limited and Securex Plus Solution EOOD through the website www.dgxlimited.io (resolution no. 21863 of 26 May 2021);

- Think Market 247 Ltd and RL Ltd through the website https://thinkmarket247.net and its page https://trade.thinkmarket247.net (resolution no. 21862 of 26 May 2021);

- Finlay through the website https://finlay.world and its pages https://finlay.live and https://webtrader.finlay.live (resolution no. 21866 of 26 May 2021).

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