Home CryptoNews Companies The French Financial Markets Authority warns the public about Kuvera LLC

The French Financial Markets Authority warns the public about Kuvera LLC

While acting in their legal mandate of protecting consumers against rogue companies running sham operations, the Autorité Des Marchés Financiers (AMF) has issued a circular on its website warning France residents against enrolling for training from Kuvera LLC. The latter firm is providing its services illegal per AMF view, and it’s not regulated by its authority to be in operation in France.

Per the AMF view, Kuvera LLC training courses for users to learn how to trade crypto together with forex is illegal. Moreover, their software solutions courses are also unlawful. Apart from the warning, AMF also disclosed that their investigations showed that, Kuvera LLC was running another scheme which is the form of compensating subscribers who bring in new subscribers. The former would get more compensation as the number of subscribers increased.

The AMF got wind of Kuvera LLC presence after savers who included teachers and parents of teenagers across France informed them about the firm’s operations. Kuvera LLC was targeting young people including high school students. Kuvera LLC is also known as Kuvera France. The latter are subsidiaries under Investview and have been offering professional services to domestic clients illegally.

Not the First Time Investview Is Operating Illegally

Although this seems like the first time Investview is operating on France soil, in the US, Investview was fined $150,000 in 2018 for providing binary options and forex services to retail investors by the U.S. Commodity Futures Trading Commission (CFTC). Later on, the firm rebranded and changed its name to Kuvera Global from Wealth Generators, and however, in France, it’s running operations under two names Kuvera LLC or Kuvera France.

In France, the AMF is at the leading front of helping cushion its residents from such firms, and as such has blacklisted several firms operating in France illegally. Apart from the blacklisting firms, the AMF also issues guidelines for people interested in investing in crypto or forex space.

- Advertisment -
#NamePriceChanges 24H