BlackRock allegedly invested clients’ assets in an energy company that was founded by one of its executives, but didn’t disclose the conflict of interest.
Estimated reading time: 0 minutes, 17 seconds
Hedge fund manager BlackRock Advisors will pay a $12 million penalty over charges that it failed to disclose conflicts of interest among its executives. So reports HedgeCo.Net.
BlackRock allegedly invested clients’ assets in an energy company that was founded by one of its executives, but didn’t disclose the conflict of interest.