French AMF warns against unauthorized companies proposing atypical investments


French AMF warns against unauthorized companies proposing atypical investments
Diamonds, rare earths, wine or “crypto assets”: intermediation in miscellaneous assets may cover several sectors.

Since July 2017, the Autorité des marchés financiers (AMF) has been providing a list of unauthorized diamond investments platforms. Later on, the AMF decided to include in this list other miscellaneous assets proposals. From now on, companies proposing to invest in “crypto assets”, some of which are presented as crypto currencies, will be listed as well.

Law No. 2016-1691 of 9 December 2016 on transparency, the fight against corruption and the modernisation of economic life (the “Sapin II” law) introduces a change in the system of intermediation in miscellaneous assets.
The investment proposals highlighting the possibility of a financial returns or a similar economic effect involve intermediation in miscellaneous assets and are now subject to ex ante control by the AMF. Consequently, no offer can be directly marketed in France on without prior allocation by the AMF of a registration number.

Despite the warning of the AMF regarding this new regulation, these companies keep advertising and/or marketing the French public:

  • http://akj-crypto.com/
  • http://bank-crypto.com/
  • https://bcoin-bank.com/
  • https://bit-crypto.net/
  • https://boursebitcoin.com/
  • https://www.crypteo.io/
  • https://cryptobankweb.com/
  • http://crypto-major.com/
  • https://cryptopartnersinvest.com/
  • http://crypto2.bnd-group.com/
  • http://crypto.private-finances.com/
  • http://ecs-solutions.net
  • http://ether-invest.com/
  • https://krakenaccess.com/
  • http://www.minedecrypto.com

A list of all unauthorized websites to offer atypical investments is available in the AMF’s website. The registration numbers delivered by the AMF are also available on the website.

These websites may change very quickly and this list is not intended to be exhaustive.

The AMF reminded investors 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.

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French AMF warns against unauthorized companies proposing atypical investments

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