SEC fined BlackRock on $2,5 Milln for inaccurate information – Bits Media

The BlackRock investment company regulated the lawsuit of the Securities and Exchange Commission and Exchanges (SEC), accusing her of providing inaccurate information. BlackRock paid a fine in $2,5 million.

According to the accusation of the regulator, in the period p 2015 by 2019 годы Multi-Sector Income Trust (BIT) BlackRock invested in the film company Aviron Group, LLC. The department claims, that BlackRock could not accurately describe her investments in the entertainment industry, By introducing Aviron as a company, providing "diversified financial services", What was wrong. BlackRock also falsely stated, that Aviron paid a higher interest rate, what was actually, celebrated SEC.

IN 2019 The year BlackRock recognized these inconsistencies and amended the materials to disclose information, To accurately reflect financial data on investment in Aviron. BlackRock did not agree with the accusations of SEC or deny them. Giant Wall Street agreed to resolve the claims of the regulator and paid a fine for the amount $2,5 million.

“Retail and institutional investors rely on accurate information about companies, who study the investment portfolio of a closed or mutual fund. These details are important for making a decision on investments. Investment consultants are required to provide this information, And BlackRock could not do this with investment in Aviron ", -said the top manager of the SEC law enforcement department Andrew Dean (Andrew Dean).

SEC is not the first to charge BlackRock for the first time. IN 2015 year, the department imposed a fine in BlackRock Advisors in $12 Milln for non -interpretation of information about the conflict of interests, and in 2017 year the company was obliged to pay $340 000 for the unlawful use of separation agreements.

The recent accusations of the regulator were made at that time, когда BlackRock ожидает от SEC результатов рассмотрения заявки на запуск спотового ETF, tied to bitcoin. If approved, This investment product will first appear in the US market. A few days ago, BlackRock has submitted an updated application for the transformation of its Grayscale Bitcoin Trust Foundation (GBTC) In the ETF of Bitcoin.