BlackRock cooperating with SEC probe of funding advisers’ communications
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(Reuters) – BlackRock Inc mentioned it was cooperating with a U.S. Securities and Alternate Fee investigation into file retaining of digital communications of its funding advisers, in accordance with a submitting on Friday.
The asset supervisor is the newest in an inventory of economic companies beneath the regulator’s scrutiny. Earlier this week, Wells Fargo mentioned U.S. regulators have been investigating the financial institution’s retention of worker communications over “unapproved” messaging instruments.
The SEC and the Commodity Futures Buying and selling Fee (CFTC) fined 16 monetary companies final 12 months, a mixed $1.8 billion after it was discovered that their workers had mentioned offers on private units and apps.
(Reporting by Anirban Chakroborti in Bengaluru)
