Prominent Investment Adviser and Former Chief Compliance Officer Settle SEC Enforcement Action Arising from Failure to Disclose Conflict of Interest Regarding Outside Business Activities
Contributor(s)
BlackRock Advisors, LLC and its former chief compliance officer recently settled an SEC enforcement action alleging that (i) BlackRock violated its fiduciary duty to clients by failing to disclose a material conflict of interest concerning the outside business activities of a portfolio manager and (ii) BlackRock failed to adopt and implement policies and procedures regarding outside activities of employees, and the chief compliance officer caused such failure.
More from the Private Equity Blog
Copyright © 2024 Weil, Gotshal & Manges LLP, All Rights Reserved. The contents of this website may contain attorney advertising under the laws of various states. Prior results do not guarantee a similar outcome. Weil, Gotshal & Manges LLP is headquartered in New York and has office locations in Boston, Brussels, Dallas, Frankfurt, Hong Kong, Houston, London, Miami, Munich, New York, Paris, Shanghai, Silicon Valley and Washington, D.C.