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News releases AMF: 2019

The Autorité des marchés financiers (AMF) warns the public against the company KUVERA LLC/KUVERA France

Published on April 9, 2019

The AMF is issuing a public warning regarding the activities of KUVERA LLC(1) /KUVERA France, which promotes trading on highly speculative products and more specifically targeting young people.

The company KUVERA LLC/KUVERA France offers the opportunity to subscribe for training courses and software solutions presented as an aid for investing in the Forex market and in crypto assets. It is particularly targeting young people, including high school students.
At the same time, the company offers subscribers compensation that automatically increases with the number of subscribers recruited.

Following a number of reports from savers, including parents of teenagers and teachers, the AMF would like to make clear that this company has no authorisation in France to operate an activity regulated by the AMF on French territory.

Lastly, the AMF reminds investors and individuals 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.  

Finally, the AMF warned savers on December 4, 2017 by issuing the following news release: " Buying Bitcoin: the AMF and the ACPR issue a warning to savers”.


(1) Kuvera LLC formerly Wealth Generators LLC was sanctioned by the CFTC in 2018.

 

About the AMF
The AMF is an independent public authority responsible for ensuring that savings invested in financial products are protected, that investors are provided with adequate information and supervising the orderly operation of markets. Visit our website https://www.amf-france.org

 

Do you have any questions? For all information, go to the following websites:
Assurance-Banque-Épargne Info Service : https://www.abe-infoservice.fr/ or call 0811 901 801, Mondays to Fridays from 8am to 6pm.
AMF : https://www.amf-france.org/ or call 01 53 45 62 00, Mondays to Fridays from 9am to 5pm.
ACPR : https://acpr.banque-france.fr/  

Press contact:
AMF Communication Directorate - Caroline Richard - Tel: +33 (0)1 5345 6039 or +33 (0)1 5345 6028 

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Legal information
Head of publications: The Executive Director of AMF Communication Directorate.
Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02