The post BlackRock Faces $2.5M Fine Along With Delisting Of Its BTC ETF appeared first on Coinpedia Fintech News
On Tuesday, October 24, it said it had filed a complaint against BlackRock Advisors LLC BLK.N for failing to adequately disclose investments in the entertainment sector that comprised a sizeable component of a publicly listed fund it managed.
Base For The Accusation? Aviron Group LLC –
From 2015 to 2019, BlackRock Multi-Sector Income Trust (BIT) made significant investments in Aviron Group, LLC through a lending facility; this company developed print and advertising campaigns for one to two films per year.
BlackRock misidentified Aviron as a provider of “Diversified Financial Services” in several BIT’s annual and semi-annual reports made publicly available to investors and filed with the SEC, according to the SEC’s order.
According to the SEC’s ruling, BlackRock allegedly misrepresented Aviron’s interest rate by asserting that it was higher than it wa
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