front page: The firm is not certified to sell the products, media reported, according to Global Times China. A notice posted on the front page of the app on Tuesday said that its stock analysis and recommendation video programs were suspended due to a system failure, and the company will issue a notice as soon as the system is fixed. They all work at a Shanghai-based stocks analysis app named Thousand & Billion whose software product aicaopan love trading is accused of causing investors losses via recommending stocks that would rise to the 10 percent daily ceiling. The same notice was posted on its Sina Weibo account on Wednesday. Some of the app users who had paid for the services requested reimbursement after news of the arrests leaked out. Besides the alleged illegal recommendation and manipulation of shares, another possible reason for the detentions is that some of the analysts are not licensed to provide stock market analysis in the Chinese mainland, an industry insider who requested anonymity told the Global Times on Sunday.
(news.financializer.com). As
reported in the news.
Tagged under front page, system failure topics.