Investing
BlackRock cooperating with SEC probe of investment advisers’ communications
© Reuters. FILE PHOTO: The BlackRock logo is pictured outside their headquarters in the Manhattan borough of New York City, New York, U.S., May 25, 2021. REUTERS/Carlo Allegri//File Photo
(Reuters) – BlackRock Inc (NYSE:) said it was cooperating with a U.S. Securities and Exchange Commission investigation into record keeping of electronic communications of its investment advisers, according to a filing on Friday.
The asset manager is the latest in a list of financial firms under the regulator’s scrutiny. Earlier this week, Wells Fargo (NYSE:) said U.S. regulators were investigating the bank’s retention of employee communications over “unapproved” messaging tools.
The SEC and the Commodity Futures Trading Commission (CFTC) fined 16 financial firms last year, a combined $1.8 billion after it was found that their employees had discussed deals on personal devices and apps.
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