SEC fines BlackRock $2.5 million for inaccurate information
Investment firm BlackRock has settled a lawsuit by the US Securities and Exchange Commission (SEC), which accused it of providing inaccurate information. BlackRock paid a fine of $2.5 million. According to the regulator’s charges, between 2015 and 2019, BlackRock’s Multi-Sector Income Trust (BIT) invested in the film company Aviron Group, LLC. The department alleges that BlackRock failed to accurately describe its investments in the entertainment industry, misrepresenting Aviron as a “diversified financial services” company. BlackRock…
