Intel stock extends gains after report of possible U.S. government stake
Investing.com -- BlackRock (NYSE:BLK), the world’s largest asset manager, has temporarily halted meetings with some of its portfolio companies. This decision comes as the firm is assessing the implications of new reporting requirements set forth by the U.S. Securities and Exchange Commission (SEC), according to Reuters, citing sources familiar with the situation.
The new SEC interpretation, affecting major U.S. asset managers including BlackRock, requires fund firms to provide more comprehensive ownership disclosures. This is particularly relevant when these firms exert influence over asset managers regarding specific environmental, social, or governance (ESG) issues.
As of 2024, BlackRock oversees an impressive US$11.5 trillion in assets under management. The firm’s recent pause in meetings is seen as a response to the SEC’s increased scrutiny on the reporting of ESG-related activities by fund firms.
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