SEC has fined BlackRock $2.5 million for inaccurate descriptions of its investment in the entertainment industry in a publicly traded fund it manages. The SEC stated that from 2015 to 2019, the BlackRock Multi-Sector Income Trust (BIT) made significant investments in a printing and advertising company called Aviron Group, which produces one to two films per year through a loan facility. The SEC stated that BlackRock incorrectly described Aviron as a company providing "diversified financial services" in BIT's annual and semi-annual reports, and also misrepresented Aviron's interest rates. However, BlackRock discovered these errors in 2019 and subsequently corrected the investment information on Aviron in the following years. The SEC emphasized that investment advisers have a responsibility to provide accurate key information, and BlackRock failed to fulfill this responsibility in its investment in Aviron. BlackRock agreed to pay a $2.5 million fine to resolve this improper investment disclosure issue.
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BlackRock was fined $2.5 million by the SEC for incorrect disclosure of investment information in the entertainment industry
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Cointime June 2 News Express
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Cointime June 1st News Express
1. Paradigm researcher: Uniswap postponed the vote on "UNI staking and delegation rewards" because a certain VC was putting pressure on it -
Paradigm researcher: Uniswap postponed the vote on "UNI staking and delegation rewards" because a certain VC was putting pressure on it
According to Paradigm researcher Dan Robinson's post on X regarding the "Uniswap postpones UNI staking and delegation reward voting scheduled for Friday" issue, he said, "It is disappointing that a large VC attempted to manipulate the token governance process at the last minute and delay community proposals to advance their own 'pet' project." Dan Robinson did not specify which VC it was. -
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Polyhedra Network has responded to a series of commitments previously made by Matter Labs regarding the ZK trademark on the X platform as follows: -
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Taiko stated that any token discount transactions from specific entities are independently managed and not authorized by Taiko. Taiko reminds users to be cautious and carefully evaluate any one-sided statements if a community emphasizes its relationship with the official platform. -
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Franklin Templeton's digital asset manager, Roger Baston, stated that financial innovators are engaged in a long-term game with the U.S. Securities and Exchange Commission (SEC). Compared to last year, the situation with the SEC is changing this year, and Franklin Templeton has had a pleasant cooperation with the SEC. They are pleased to see the SEC changing its attitude and tone. -
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US Senator Cynthia Lummis, who supports the cryptocurrency industry, said that President Biden's decision to veto the controversial cryptocurrency accounting standard SAB 121 missed the opportunity to "correct" his position on cryptocurrency assets. Lummis stated on X platform that Congress gave the government the opportunity to correct its position on cryptocurrency assets. I will not stand idly by because the government is trying to circumvent the law. I will continue to work to promote financial innovation and provide crucial protection for cryptocurrency assets that this administration seems determined to stifle.
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