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Erscheinung:23.02.2024 | Topic Prospectuses, Unauthorised business, Consumer protection QuantumIPOAdvisors: BaFin investigates purported sale of Ampere shares

The Federal Financial Supervisory Authority (BaFin) warns consumers about the company QunatumIPOAdvisors and the services it is offering. The company is offering financial and investment services without authorisation under the German Banking Act (KreditwesengesetzKWG) or the German Investment Firm Act (WertpapierinstitutsgesetzWpIG). The company is leading investors to believe it can sell them shares in the French company Ampere SAS.

On its website quantumipoadvisors.com, the company refers to additional upcoming initial public offerings, only some of which are actually planned. QuantumIPOAdvisors provides no information regarding its legal form. The company claims that it is registered in Dublin, Ireland, Amsterdam, the Netherlands, and Zürich, Switzerland. In a legal notice on the website, the operator claims that it is supervised by BaFin and that it has authorisation under the WpIG. This is incorrect.

In the past, there have been frequent reports of attempted fraud where shares in well-known companies are offered for subscription. Following payment by the buyer, the shares are not delivered and the offerors can no longer be contacted. In some cases, the shares offered do not even exist.

BaFin, the German Federal Criminal Police Office (BundeskriminalamtBKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage..

Background

As a rule, securities may be offered to the public in Germany only if a prospectus has been published. This prospectus must be approved by BaFin prior to publication. Offering securities to the public without an approved prospectus constitutes a violation of the prospectus requirement under Article 3(1) of the EU Prospectus Regulation – unless an exemption applies.

During the prospectus approval process, BaFin checks whether the minimum information required by law is included in the prospectus and whether its content is understandable, coherent and consistent. However, BaFin is not responsible for checking whether the information contained in the prospectus is correct, for assessing the integrity of the issuer, or for monitoring the product in question.

No securities prospectus relating to Ampere shares has been submitted to BaFin for approval. You can check whether an approved prospectus for an offer of securities to the public has been filed with BaFin by consulting the Prospectuses filed database on the BaFin website.

Companies that offer to sell securities of other companies to consumers require authorisation from BaFin. The same applies for pre-IPO shares. Information on whether a particular company has been authorised by BaFin can be found in BaFin’s database of companies.

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