French AMF reminds investors of 35 risky companies
France's Financial Markets Authority (AMF) puts 35 new unregulated entities on warning list。These companies allegedly offer foreign exchange and cryptocurrency-based derivatives without obtaining the necessary authorizations.。
The French Financial Markets Authority (AMF) has added 35 new unregulated entities to its warning list.。These companies allegedly offer foreign exchange and cryptocurrency-based derivatives without obtaining the necessary authorizations.。
AMF warning list expanded
For the AMF, this is the biggest update to its warning list in a while.。For all of 2023, AMF added 66 unauthorized entities from the foreign exchange market and 11 from the cryptocurrency market.。This update alone accounted for nearly half of all activity last year, with the last major update occurring in September, when the AMF added more than 20 entities to its warning list.。
AMF has issued warnings for several entities (see here for a full list), including activefinancial.trade, akselinvest.pro, algo-management.co, baccocapital.pro, brown-fin.com and byou360invest.Com。As for cryptocurrency entities, there are also aeexc on the list.lat, bitecx.com, bitoasis.ai, cybercapital.Ltd and EliteTrader.io, etc.。
The last time the AMF acted was at the end of November, when the agency issued a warning about the automated trading service offered by Immediate Connect.。The service uses fake articles and celebrities to hype online。
AMF works to simplify transaction fees
To better protect retail traders, the AMF has published a guide for financial professionals that includes standardized commission terms.。This is part of a larger effort to provide educational resources and tools to help retail investors understand the costs associated with trading and financial products.。
"Protecting investors is our top priority.。Clear, detailed and accurate fee information is essential for investors to make comparisons and make informed choices, especially in the context of inflation, "AMF Chairman Marie-Anne Barbat-Layani said.。"We encourage professionals to use this glossary, which is a real step forward for retail investors.。
A recent AMF survey found that more than half of French retail investors see the impact of appraisal fees on their investment returns as challenging.。This misconception has raised concerns among regulators because fees can have a significant impact on investment results.。In addition, an AMF survey noted that fee information is often inconsistently expressed across asset classes, complicating investors' informed decision-making。
According to AMF, the participation rate of individual investors in France is on the rise。In 2022, there were more than 1.5 million active investors in the French stock market, down slightly from the previous year, but up from 2020.。It is worth noting that last year nearly 19.50,000 new investors entered the market, indicating the French public's growing interest in investing。
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