Despite the promise of large language models (LLMs) in finance, their capabilities for financial misinformation detection (FMD) remain largely unexplored. To evaluate the capabilities of LLMs in FMD task, we introduce the financial misinformation detection shared task featured at COLING FinNLP-FNP-LLMFinLegal-2024, FMD Challenge. This challenge aims to evaluate the ability of LLMs to verify financial misinformation while generating plausible explanations. In this paper, we provide an overview of this task and dataset, summarize participants’ methods, and present their experimental evaluations, highlighting the effectiveness of LLMs in addressing the FMD task. To the best of our knowledge, the FMD Challenge is one of the first challenges for assessing LLMs in the field of FMD. Therefore, we provide detailed observations and draw conclusions for the future development of this field.

Understanding the interplay between emotions in language and user behaviors is critical. We study how moral emotions shape the political participation of users based on cross-cultural online petition data. To quantify moral emotions, we employ a context-aware NLP model that is designed to capture the subtle nuances of emotions across cultures. For model training, we construct and share a moral emotion dataset comprising nearly 50,000 petition sentences in Korean and English each, along with emotion labels annotated by a fine-tuned LLM. We examine two distinct types of user participation: general support (i.e., registered signatures of petitions) and active support (i.e., sharing petitions on social media). We discover that moral emotions like other-suffering increase both forms of participation and help petitions go viral, while self-conscious have the opposite effect. The most prominent moral emotion, other-condemning, led to polarizing responses among the audience. In contrast, other-praising was perceived differently by culture; it led to a rise in active support in Korea but a decline in the UK. Our findings suggest that both moral emotions embedded in language and cultural perceptions are critical to shaping the public’s political discourse.