US Securities and Exchange Commission (SEC) obliged BlackRock to pay a fine of $2.5 million for “failure to disclose investment information.”
The indictment refers to one of BlackRock’s funds, the BlackRock Multi-Sector Income Trust (BIT). Between 2015 and 2019, he made a “significant contribution” to Aviron Group through a line of credit, according to the SEC.
According to the documents, the firm provides “diversified financial services.” The SEC, in turn, said that Aviron Group was developing advertising plans to promote the films.
BlackRock also misled investors, the order alleges. According to the regulator, the company overestimated the company’s real interest payments.
Later, when inaccuracies were discovered, the description and receipt data were corrected.
BlackRock agreed to pay a fine of $2.5 million. However, the company did not recognize, nor did it refute, the regulator’s decision.
Earlier it became known that the US Congress is investigating BlackRock and index provider MSCI. These counterparties are suspected of financing organizations from the sanctions list.
Source: Cryptocurrency
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