French AMF Issues Warning against Laurent Chenot and his Companies

The Autorité des Marchés Financiers(AMF) yesterday issued a warning to the public highlighting the proposals and activities of Laurent Chenot, through his companies Legendary Learning and Tradinvest after receiving several reports by investors.

According to the official press release posted by the regulator, Laurent Chenot has invited private individuals to subscribe paid training courses in finance on his website and then redirect them to online brokers. Once they are registered on these platforms, the investors made financial transactions in highly speculative financial products based on specific investment recommendations. Many investors have suffered substantial losses on these platforms.

Actually, the activities conducted by Laurent Chenot and his team would appear to correspond to the investment services of asset management on behalf of third parties and/or financial investment advice, for which neither Laurent Chenot, his team nor his companies, Legendary Learning or Tradinvest, have the regulatory authorisations. In addition, the non-European brokers that Laurent Chenot presents to the retail investors are not authorised to provide investment services in France, either.

By the terms of the Monetary and Financial Code, the provision of these investment services requires authorisation from the AMF.

The AMF recommends that investors should not respond to contacts or offers of financial training made directly by Laurent Chenot or through his companies, especially for the services known as "Livret Alpha", "Livret Alpha Performance", "Dollar King", "Money Daddy" or "First Trading", and that they should refrain from passing them on to third parties in any form whatsoever.