Financial timess

Popular creators on breakout social media platform TikTok are jumping on the stock market bandwagon, exposing millions of viewers to misleading financial advice, new analysis suggests.An investigation into more than 1,000 stock-related TikTok videos by crypto exchange Paxful found that 14% failed to offer any sort of disclaimer that might warn viewers of the risks. These videos had a combined 28.4 million views and 3.6 million likes.Much of the offending content advised followers to purchase specific assets, as opposed to a broader asset class or genre, and were often guilty of implying guaranteed profit or suggesting a specific purchase volume.Check out our list of the best stock trading apps out thereHere's our list of the best forex trading services aroundWe've built a list of the best crypto exchanges right nowMore than half (52%) of the TikTok accounts analyzed had published at least one “misleading” post, the vast majority (60%) of creators failed to include a … [Read more...] about TikTok influencers exposing millions to ‘misleading’ stock tips and financial advice

Late last week, the New York Department of Financial Services, the state’s banking regulator, sent 22 subpoenas to Bitcoin-related companies, according to a source familiar with the matter. The full list includes BitInstant, BitPay, Coinbase, CoinLab, Coinsetter, and Dwolla, as well as investors Andreessen Horowitz, Google Ventures, and Winklevoss Capital Management (which claims to own one percent of all bitcoins in circulation). Butterfly Labs, a bitcoin miner manufacturer that Ars profiled earlier this year , also received a subpoena. Most of the companies listed did not immediately respond to our request for comment. Responses from those that did spanned the yes-no-maybe gamut: "We’re not publicly commenting on the subpoenas or whether we received one," Jaron Lukasiewicz, the CEO of Coinsetter, told Ars by e-mail. "I think the more important takeaway is that companies in our space can now open up a productive dialogue with regulators." Kim Milosevich, a spokesperson for … [Read more...] about New York financial regulator hits 22 Bitcoin-related companies with subpoenas

By Hinnerk Feldwisch-Drentrup Feb. 17, 2021 , 1:35 PM Reinhard Hüttl had risen to the very top of German science. The soil scientist was head of the German Research Centre for Geosciences (GFZ), where he commanded a staff of more than 1200 and a €95 million budget. He was vice president of acatech, Germany’s engineering-focused national academy, and vice president of the nation’s most prestigious state academy, the Berlin-Brandenburg Academy of Sciences and Humanities (BBAW). His advice even reached Chancellor Angela Merkel—for example as a government adviser with the Council on Bioeconomy. That world has come crashing down. Last month, police raided Hüttl’s homes and offices in Berlin and Potsdam on suspicion of fraud, breach of trust, and illegal acceptance of benefits by a public official—offenses that can be punished with fines or prison sentences. On 26 January, the GFZ board dismissed him, saying it “no longer sees any basis for a trustworthy cooperation.” The Federal … [Read more...] about Top German geoscientist fired after police raid, faces allegations of financial crimes

With the rise in mobile payments and a digital ecosystem in India where there’s an app for almost everything, the government has taken note that it is important to set up a new unit to fight financial frauds and safeguard people’s trust in digital services. The government is working on creating a nodal agency, named as Digital Intelligence Unit (DIU). “The main function of DIU will be to coordinate with various LEAs, Financial Institutions and telecom service providers in investigating any fraudulent activity involving telecom resources,” the ministry of communications said in a press statement. Officials also suggested that to protect the interests of the consumers, “at License Service Area level, Telecom Analytics for Fraud Management and Consumer Protection (TAFCOP) system will also be created.” With the new initiatives, the central government expects to make financial digital transactions primarily through mobile more secure. The new development comes … [Read more...] about Government to launch new digital unit to fight financial scams on mobile

Personal computer giant HP Inc. this afternoon said it will make its acting CFO, Marie Myers, who took on the role in October with the departure of Steve Fieler, to be its new chief financial officer. HP CEO Enrique Lores called Myers "one of HP's most respected leaders," adding, "she has consistently driven strong results, unlocked new sources of value, and positioned us well to deliver on our priorities." Myers has been juggling the dual roles since October of acting CFO and transformation officer for HP Inc. while HP conducted an executive search for a new financial chief. Fieler left HP to work at Google as business finance officer. Myers, HP noted, has more than 20 years of experience with HP in a financial capacity, including having served as  global controller for three years, prior to a brief stint at process automation startup UiPath as CFO. The firm credits Myers with having "driven an aggressive agenda as HP's Chief Transformation Officer to strengthen the … [Read more...] about HP Inc. names company veteran Marie Myers chief financial officer