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 <p>The SEC today charged BlackRock Advisors, LLC for failing to properly disclose investments that comprise a significant portion of a publicly traded fund it advises. This is according to an SEC statement released today. In particular, the investments are within the entertainment industry.</p>
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    <p lang="en" dir="ltr">JUST IN: 🇺🇸 SEC charges BlackRock with failing to disclose investments.</p>— Watcher.Guru (@WatcherGuru) October 24, 2023
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 <p><strong>Also Read: US Court Says SEC Must Re-review Grayscale Spot Bitcoin ETF</strong></p>
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 <p>To settle the charges, BlackRock is agreeing to pay a $2.5 million penalty. The SEC’s order finds that, from 2015 to 2019, BlackRock Multi-Sector Income Trust (BIT) made significant investments, through a lending facility, in Aviron Group, LLC. Aviron is a company that developed print and advertising plans for one to two films per year.</p>
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 <p>The order adds that “in many of BIT’s annual and semi-annual reports that were publicly available to investors and filed with the SEC, BlackRock inaccurately described Aviron as a “Diversified Financial Services” company.” In response to the order, BlackRock agreed to a cease-and-desist order and a censure in addition to the monetary penalty. However, the company did not admit or deny the SEC’s findings.</p>
 <p><strong>Also Read: BlackRock’s iShares Bitcoin Trust Removed, DTCC Website Down</strong></p>
 <p>“Retail and institutional investors rely on accurate disclosures of the companies that make up a closed-end or mutual fund’s portfolio to evaluate a current or prospective investment in the fund,” said Andrew Dean, Co-Chief of the Enforcement Division’s Asset Management Unit.&nbsp;“Investment advisers have a responsibility to provide this vital information, and BlackRock failed to do so with the Aviron investment.”</p>
 <p>BlackRock and its representatives have yet to comment publicly on the latest SEC findings.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/sec-charges-blackrock-with-failing-to-disclose-investments-tbt67629.html">https://thebittimes.com/sec-charges-blackrock-with-failing-to-disclose-investments-tbt67629.html</a></p>

SEC Charges BlackRock with Failing to Disclose Investments

TheBitTimes

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