French AMF warns against Patrimoine Gestion Management and PGM Patrimoine

fma warning

Following a number of reports from savers regarding the websites and and the entities Patrimoine Gestion Management and PGM Patrimoine, the Autorité des marchés financiers (AMF) and the Autorité de contrôle prudentiel et de résolution (ACPR) have issued a public warning.

These websites and entities are not authorized either by the AMF or by the ACPR to provide investment services or savings accounts contrary to their allegations.

The AMF and the ACPR have recommended that investors do not take up these solicitations and do not communicate them to third parties, in any form whatsoever.

The AMF has reminded investors and individuals responsible for marketing investment products to follow these safety guidelines before making any investment:

  • no advertising materials should make you overlook the fact that high returns always involve high risk;
  • learn as much as you can about the company or intermediary trying to sell you a product (authorisation/certification, company history, location of head offices, etc.);
  • only invest in a product you understand;
  • ask yourself how, and by whom, the purchase price or selling price of the advertised product is set, and find out the precise terms and timeline for selling the product, especially in cases where the product invests in an asset class with low liquidity.

The official warning can be seen here.

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