😱 Accusation from SEC against BlackRock for Bitcoin ETF transaction: Penalty will be paid
A significant charge has been brought against BlackRock company, whose Bitcoin spot ETF application has been postponed in recent weeks, from the SEC. The institution accused the giant fund manager company of not transparently disclosing its investments. BlackRock agreed to pay a penalty of $ 2.5 million.
The US Securities and Exchange Commission (SEC), which has taken harsh steps against companies that invest in cryptocurrency or make moves in this area, has now made a significant accusation against BlackRock company. However, it turned out that the accusation had nothing to do with cryptocurrencies.
The SEC alleges that there are discrepancies related to the investments of the Multi-sector Return Fund (BIT), owned by BlackRock, in the film company Aviron. In the SEC's statement, it was stated that BlackRock did not disclose at the necessary and sufficient level, which is likely to mislead investors.
As he did not accept, he also did not refuse…
While the charges alleged by the SEC also seem to cover the period between 2015 and 2019, the Wall Street giant company did not admit the charges, but did not Decry them at the same time. BlackRock did not appeal the SEC's fine and agreed to settle with the institution and pay the penalty of $ 2.5 million.
Not the first punishment
The SEC has fined BlackRock company many times before. in 2015, BlackRock Advisors, a subsidiary of BlackRock, was fined $ 12 million and the same company was fined $ 340 thousand in 2017 for trying to prevent its employees from receiving compensation.
