Showing posts from November, 2021

Dow industrials down 900-plus points early Friday amid global concern over coronavirus variant

The World Health Organization will meet Friday to address the emergence of the B.1.1.529 variant

South African scientists have said the B.1.1.529 variant contains more than 30 mutations to the spike protein.

FTC Releases 2021 Do Not Call Registry Data Book; Reports Registrations and Consumer Complaints Both Increased in FY 2021

Consumers report most unwanted calls from imposter government agencies or businesses, followed by calls about warranties and protection plans Today, the Federal Trade Commission released the National Do Not Call Registry Data Book for Fiscal Year 2021. The FTC’s National Do Not Call (DNC) Registry lets consumers add their phone number and choose not to receive most legal telemarketing calls. In the last fiscal year, nearly three million people signed up with the DNC Registry, bringing the total close to 245 million phone numbers. Now in its thirteenth year of publication, the Data Book also provides the most recent fiscal year information available on robocall complaints, the types of calls consumers reported to the FTC, and a complete state-by-state analysis. According to the Data Book, complaints about imposter calls again topped the list, with almost 594,000 received during the fiscal year ending on September 30, 2021, including both live calls and robocalls. In such calls, impos

FTC Chair Lina M. Khan Announces New Appointments in Agency Leadership Positions

Federal Trade Commission Chair Lina M. Khan announced several new additions to the FTC’s Office of Policy Planning. Olivier Sylvain, Meredith Whittaker, Amba Kak, and Sarah Myers West will be working with the agency’s Chief Technology Officer and technologists as part of an informal AI Strategy Group and in partnership with policy experts across the agency to provide insight and advice on emerging technology issues. John Kwoka will be working with competition economists and attorneys on an updated approach to merger review policies. “At this critical time for the agency, I’m thrilled to welcome to the FTC several new additions: Amba Kak, John Kwoka, Sarah Myers West, Olivier Sylvain, and Meredith Whittaker,” said Chair Lina M. Khan. “Tackling unlawful conduct requires that we ensure our law enforcement and policy work are keeping pace with new market realities. These leaders in tech and economic policy will work alongside experts within the FTC and my office to help us realize that

FTC to Expand Criminal Referral Program to Stop and Deter Corporate Crime

FTC policy statement aimed at holding corporations and their executives accountable for crimes the agency uncovers The Federal Trade Commission today voted to expand its criminal referral program as part of its work to stop and deter corporate crime. While the FTC’s authority is limited to civil enforcement, the policy statement adopted at today’s open meeting will enhance the agency’s efforts to combat the criminal misconduct the FTC uncovers in consumer protection and antitrust investigations. The new measures outlined in the policy statement will ensure that cases are promptly referred to local, state, federal and international criminal law enforcement agencies so that corporations and their executives are held accountable for criminal behavior. “At a time when major corporate lawbreakers can treat civil fines as a cost of doing business, government authorities must ensure that criminal conduct is followed by criminal punishment,” said Chair Lina M. Khan. “Today the FTC is redoubli

Google Document Translation Now Generally Available

A leveraged exchange-traded fund (ETF) is a marketable security that uses financial derivatives and debt to amplify the returns of an underlying index

While a traditional exchange-traded fund typically tracks the securities in its underlying index on a one-to-one basis, a leveraged ETF may aim for a 2:1 or 3:1 ratio.

Day traders attempt to make profits by opening and closing trade positions several times during the day

Day traders usually close all of their open positions at the end of the day and don’t carry them over to the next day.

Long-term capital gains vs short-term capital gains

Long-term capital gains apply to positions held for longer than one year; short-term capital gains apply to positions held for one year or less.

FTC Invites Public Comment on Draft Strategic Plan

The Federal Trade Commission has released a preliminary draft Strategic Plan for Fiscal Years 2022 to 2026  for public review and comment. Every four years, government agencies are required to submit an updated strategic plan that presents strategic goals and objectives for the next five years and describes how the agency will measure success in these areas. The FTC’s last updated strategic plan was prepared in FY 2018, and the current draft tracks closely to that iteration. The FTC welcomes feedback on how the draft plan could be adjusted to reflect the agency’s reinvigorated approach to addressing harms to American consumers, workers, and honest businesses. Public comments  on the draft plan may be submitted until November 30, 2021. The Federal Trade Commission works to promote competition , and protect and educate consumers . You can  learn more about consumer topics  and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357). For the latest news and resources,

Consumer Defensive sector

Food & Staples Retailing (distribution and grocery stores) Food, Beverage & Tobacco (brewers, packaged food and tobacco) Household & Personal Products (all products found in the kitchen and bathroom)

FTC Announces Tentative Agenda for November 18 Open Commission Meeting

Today, Federal Trade Commission Chair Lina M. Khan announced that an open meeting of the Commission will be held virtually on Thursday, November 18, 2021. The open meeting will begin at 1pm ET and will be preceded by a time for members of the public to address the Commission. The following items will be on the tentative agenda for the November 18 Commission meeting: Business Before the Commission Presentation on Criminal Referrals and Partnerships and Motion to Issue Commission Statement: Staff will report on the status of criminal referrals by the Bureaus of Competition and Consumer Protection that have resulted in criminal enforcement action by federal and state legal authorities. The Commission will vote on whether to issue a statement outlining the agency’s commitment to continuing to refer potential criminal violations and opportunities for strengthening this work. 6(b) Study on Supply Chain Disruptions: The Commission will vote on whether to issue Orders to large retail

Health Canada has authorized a booster dose of the Pfizer-BioNTech COVID-19 vaccine for all adults 18 and older

Pfizer-BioNTech gets approval for COVID-19 booster vaccine in Canada

FTC Takes Action to Ban Payment Processor From Debt Relief Processing

Company processed millions in consumer payments for a bogus student debt relief scheme The Federal Trade Commission obtained an order  permanently banning a payment processor that facilitated a fraudulent student loan debt relief scheme from processing debt relief payments.  The order also requires the company and its owner to surrender $500,000 to the FTC for consumer redress. The FTC’s complaint   against Automatic Funds Transfer Services, Inc. (AFTS) and its owner, Eric Johnson, alleges that AFTS processed at least $31 million in consumer payments for a fraudulent student loan debt relief scheme sued by the FTC in 2019. The debt relief scheme used numerous names, including The Student Loan Group (SLG). “Firms that facilitate fraud—especially against struggling student borrowers—need to pay a price,” said Samuel Levine, Director of the FTC’s Consumer Protection Bureau. “Many of these firms may operate in the background, but they’re very much in our sights.” AFTS and Johnson process

How long can you stay separated from your spouse in Canada?

You can remain indefinitely separated from your spouse without ever filing for divorce.

The global ETF industry heads towards $10trn in assets under management

Index funds are passively managed funds that have the goal of matching the performance of the benchmarks they're tied to.

FTC Sends Full Refunds Totaling Over $2 Million to Consumers who Lost Money Through Deceptive Direct Mail Publications Scheme

The Federal Trade Commission is sending 34,893 checks and PayPal refunds totaling more than $2 million to consumers who lost money through a deceptive direct mail publications scheme. Agora Financial, LLC, NewMarket Health, and other related defendants tricked consumers into buying pamphlets, newsletters, and other publications through false promises and deceptive marketing.  The refunds will provide full compensation for consumers who bought certain health- and finance-related publications sold by the defendants. According to an October 2019 FTC complaint , the Agora defendants primarily targeted its publications, including The Doctor’s Guide to Reversing Diabetes in 28 Days , at older consumers nationwide. Agora falsely marketed The Doctor’s Guide as a simple and scientifically proven protocol that can permanently cure type 2 diabetes in 28 days, without any changes in diet or exercise. The FTC also alleged that the Agora defendants deceptively marketed Congress’ Secret $1.17 Trill