French AMF warns against Naftoil firm and director


France’s market regulator the Autorité des marchés financiers (AMF) has warned the public against the activities of “Naftoil” company and its director Mr Raphael Comté proposing investments services without being authorized to do so.

This company is not authorized by the AMF to provide investment services.

The AMF 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 (authorization/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.

To ensure that the intermediary offering banking or financial products or services is authorised to operate in France, you can view the register of financial agents or the list of authorised intermediaries in the financial investment advisor (FIA) or participating investment advisor (PIA) categories.

If the intermediary in question is not on any of the last two lists, AMF strongly recommends that you 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.

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French AMF warns against Naftoil firm and director

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