The post SEC Find BlackRock $2.5m Inaccurate Investment Exposure! appeared first on Coinpedia Fintech News
BlackRock Advisors has reached a $2.5 million settlement with the Securities and Exchange Commission (SEC) after being accused of inaccurately describing significant investments in the entertainment industry that comprised a publicly traded fund. According to the SEC, between 2015 and 2019, BlackRock Multi-Sector Income Trust (BIT) made significant investments in Aviron Group but inaccurately described it as a “Diversified Financial Services” company in many annual and semi-annual reports. BlackRock consented to the SEC’s order, which found that it violated the Investment Advisers Act of 1940 and the Investment Company Act of 1940.
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