Information disclosure system

CMVM issues warning for investors concerning Afonso Costa

​8 July 2022

The CMVM (Portuguese Securities Market Commission) issues a warning for investors to the fact that Afonso Costa using the website, the Instagram pages,, and, the Linktree, the Youtube channel and the TikTok account is not authorised to carry out any type of financial intermediation activity in Portugal, under article 295 (1) paragraphs a) and b) of the Portuguese Securities Code.

The CMVM warns, additionally, that this person is not authorised to carry out advertising or client prospecting aimed at agreeing financial intermediation contracts.

In order to ensure that a certain entity that provides investment services in financial instruments is authorised to carry out said activity in Portugal, one should consult the list of authorised financial intermediaries via the following link CMVM - Sistema de difusão de informação - Financial intermediaries or via the list of entities authorised to provide financial services in Portugal under the freedom to provide services (LPS) via the link  CMVM - Sistema de difusão de informação - Financial intermediaries.

Any person or entity that has established any business relationship with persons claiming to represent the above-mentioned entity, may contact the CMVM via the Toll-free number 800 205 339 (support line) or by e-mail at