BlackRock Pauses Meetings Amid SEC Reporting Rule Review
BlackRock, the largest U.S. asset manager, has temporarily suspended meetings with select portfolio companies. This move follows the release of new reporting rules by the U.S. Securities and Exchange Commission (SEC).
The SEC's rules require fund firms to disclose more detailed ESG (environmental, social, and governance) ownership information when engaging in discussions with asset managers.
BlackRock is among the investment firms impacted by these regulations. The company is reviewing the potential implications of the new rules on its operations.
The news of BlackRock's actions was initially reported by Semafor.