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AMF Warnings July 2023: Safeguarding Investors’ Interests in a Dynamic Financial Landscape

A news release from the Autorité des Marchés Financiers (AMF) and the Autorité de ContrôlePrudentiel et de Résolution (ACPR) in France. The authorities are warning the public against the activities of several entities offering investments in Forex and in crypto-assets derivatives without being authorized to do so.

The AMF and the ACPR aim to protect investors and regularly update their blacklists of websites identified as offering investments in the unregulated foreign exchange (Forex) market and in derivative products whose underlying assets include crypto-assets, without being authorized to do so. The news release includes a list of recently identified websites run by unauthorized entities.

They also note that since the beginning of 2023, the AMF and ACPR have added 22 unauthorized websites in the Forex category, none in the crypto asset derivatives category. They remind the public that these lists are updated regularly but they are not intended to be complete, as new unauthorized entities appear regularly.

The news release advises the public to ensure that the intermediary offering financial products or services is authorized to operate in France, and provides links to the register of authorized investment service providers and the list of authorized intermediaries in the financial investment advisor (FIA) or crowdfunding (CIP) categories.

If the intermediary in question does not appear on any of the last two lists, the AMF and ACPR strongly recommend that the public should not make use of their services, as they are in breach of the applicable legislation and are not required to comply with basic rules of investor protection, information disclosure and claims handling.

The news release also provides contact information for the AMF and ACPR, as well as links to their websites and other resources for further information.

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The AMF publishes an updated list of identified new websites offering atypical investments in France without authorization. In the second quarter, only one new website was identified in the atypical investments category: www.financierecalixa.com.

Atypical investments are defined as acquisitions of rights to an asset by stressing the potential for direct or indirect financial returns or having a similar economic effect. Any offer to invest in miscellaneous assets must be registered with the AMF to be marketed.

The AMF has noted a decline in fraudulent offers in the field of atypical investments in general, while fraudulent offers have increased in recent months for investments in car parks, rooms in elderly care homes, eco-parking spaces with electric charging terminals, and solar power plants.

The AMF urges investors to carry out checks before making any investment and to be especially vigilant when faced with proposals offering high returns, downplaying the risk, and often resorting to impersonating authorized firms in the financial sector or major industrial or retail companies.

The news release also provides contact information for the AMF, as well as links to their website and other resources for further information.

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