UK watchdog warns share trading apps not to encourage 'gambling' – Yahoo Finance
LONDON (Reuters) – Stock trading apps should review their features to ensure that investors are not tempted into "gambling-like" behaviour, Britain's Financial Conduct Authority said on Monday.
The watchdog warned stock trading app operators to stop "game-like" elements which risk prompting consumers to take actions against their own interest.
Such features include sending frequent notifications with the latest market news and providing consumers with in-app points, badges and celebratory messages for making trades, the FCA said.
"Some product design features could be contributing to problematic, even gambling-like, investor behaviour," Sarah Pritchard, FCA executive director of markets, said in a statement.
"We expect all firms that offer stock trading to consumers to review and, where appropriate, make improvements to their products based on these findings."
The FCA said its research looking at 3,000 users across several app companies raised concerns that customers are exposed to high-risk investments, and that some appear to exhibit behaviours similar to problem-gambling.
More than one million new accounts were opened by 4 trading app firms in the first four months of 2021, almost double the amount opened with all other retail investment services combined.
Companies should make sure they are treating customers in a way that complies with the tougher "consumer duty" protection which comes into force next year, the FCA said.
(Graphic: FCA Trading App Graphic – https://fingfx.thomsonreuters.com/gfx/mkt/zgpobmnykvd/FCA%20Trading%20Apps%20Graphic.PNG)
(Reporting by Huw Jones)
Concerns surrounding the growth of big tech do not apply to George Soros. The Federal Reserve's decision to aggressively raise interest rates to fight inflation, which is at a 40-year high, threatens to push the economy into a recession, many analysts say. This inflation, which is particularly impacting consumers, is a huge problem for the technology sector, because tech products and services are the first to suffer from spending cuts.
With a history of decades-long investing success, billionaire Ken Griffin knows a thing or two about market behavior. Recently, the Citadel Investment Group Founder and CEO offered some of his thoughts on the state of the stock market and where the economy is heading. While Griffin believes inflation has already peaked, he thinks the Fed has yet to truly put the “genie back in the bottle.” He also thinks unemployment is about to rise and expects a recession will likely materialize “sometime in t
FTX lawyers say a substantial amount of assets are missing or stolen in latest bankruptcy proceedings; Cathie Wood still sees Bitcoin at $1 million
In the early days of the pandemic, investors bet Novavax (NASDAQ: NVAX) would be a coronavirus vaccine winner. When the biotech's vaccine candidate fell behind, though, investors lost faith. With its shares down almost 90% this year, you may be wondering if Novavax presents a great buying opportunity.
Warren Buffett — the Oracle of Omaha — is widely regarded as one of the greatest investors of all time. Berkshire Hathaway Inc. (NYSE: BRK-A) has returned tens of thousands of percent over the years and consistently outperforms the market. Buffett purchased the company for just $8.3 million in 1965, and it’s now valued at nearly $700 billion, roughly a 10 million percent return. But one of Buffett’s top all-time picks and longest-held positions is one you might not expect. Berkshire Hathaway fir
Despite the fact that Advanced Micro Devices, Inc. (NASDAQ:AMD) stock rose 5.1% last week, insiders who sold US$4.1m…
Amazon (NASDAQ: AMZN) is one of the best-performing stocks of the past generation, but 2022 has mostly been a disaster for the tech giant. The stock is down 47% year to date, revenue growth has slowed to all-time lows, it's closed dozens of warehouses after overestimating demand, shuttered once-promising projects like Amazon Care, and just reported that it's laying off 10,000 corporate employees. While it's clear Amazon has struggled this year, those challenges seem well-reflected in Amazon's stock price.
Patience can pay off handsomely when you're invested in companies with clearly defined competitive advantages.
China just notched the most daily Covid-19 infections since the start of the pandemic. Investors hoping for a market turnaround should think twice.
Coupa Software (COUP) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
This year, energy companies raked in big profits, allowing those in the sector to pay down debt and reward shareholders with fat dividends. Although energy stocks are up significantly, supply-related events could push oil prices even higher. Additionally, further European sanctions on Russian oil will go into effect on Dec. 5, and the U.S. and other G7 members are looking to put a price cap on Russian oil — all of which could disrupt supplies.
The word "hypergrowth" does not describe the current technology bear market. Such a change may point to buying opportunities in tech stocks such as SoFi Technologies (NASDAQ: SOFI) and Zscaler (NASDAQ: ZS). Amid the moratorium on student loan payments because of the pandemic, it had to pivot into other areas of finance.
Tough times are coming. But you can still make money.
Even though mid-term election results and encouraging inflation news have pushed U.S. stocks to their highest levels since August, a prominent UBS analyst says a recession is due and the global economy will continue to decline and that markets will … Continue reading → The post UBS Analyst Says This Is When Investors Should Buy the Dip appeared first on SmartAsset Blog.
In this article, we discuss 25 highest-paying monthly dividend stocks. You can skip our detailed analysis of dividend stocks and their returns in the past, and go directly to read 10 Highest-Paying Monthly Dividend Stocks. As high-interest rates and inflation have pulled down the market this year, dividend stocks are gaining a lot of traction […]
Elon Musk has disbanded Twitter's entire office in Brussels after a row over the policing of the social network's content in the bloc.
Both of these stocks have great long-term prospects and offer an attractive dividend in the meantime.
Among the telecoms is Verizon Communications (NYSE: VZ), the second-largest provider behind AT&T. The stock sports an attractive 6.89% dividend yield, which also places it in red-flag territory. Often, when a stock's dividend yield rises higher than 5%, it's seen as a warning sign that the company won't be able to pay its dividend obligations sustainably. Should Verizon shareholders be concerned?
(Bloomberg) — In the wake of the spectacular meltdown of Sam Bankman-Fried’s crypto empire, many investors are looking for early warning signs that may have foretold the contagion that was about to unfold. One possibility? Coinbase Global Inc.’s junk bonds.Most Read from BloombergElizabeth Holmes Judge Proposes Texas Prison, Family VisitsMost Fed Officials Seek to Slow Pace of Interest-Rate Hikes SoonChina Covid Cases Jump to Record High, Topping Shanghai OutbreakFrom Tom Brady to Shaq, FTX’s C
One digital asset is bucking crypto's downward trend as the majority of the crypto market nose-dives following the collapse of the FTX exchange.