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Investment Adviser

All articles tagged with #investment adviser

finance2 years ago

BlackRock Fined $2.5 Million for Failing to Disclose Investments, Settles with SEC

The Securities and Exchange Commission (SEC) has charged BlackRock Advisors, LLC, an investment adviser, for failing to accurately disclose investments in the entertainment industry made by a publicly traded fund it advised. BlackRock inaccurately described the investments in its reports and falsely stated the interest rate paid by the company involved. To settle the charges, BlackRock has agreed to pay a $2.5 million penalty. The SEC emphasizes the importance of accurate disclosures for investors evaluating funds and holds investment advisers responsible for providing vital information.

via SEC.gov|
#blackrock#disclosure#finance
finance2 years ago

SEC Charges Concord, Money Manager Linked to Abramovich, with Fraud

The Securities and Exchange Commission (SEC) has charged Concord Management, a small firm that managed billions in hedge fund and private equity investments for Russian oligarch Roman Abramovich, with operating as an unregistered investment adviser. The SEC alleges that Concord and its owner, Michael Matlin, earned tens of millions of dollars in fees for providing investment advice to Abramovich, who is described as a "wealthy former Russian official widely regarded as having political connections to the Russian Federation." The complaint states that Concord and Matlin should have registered as investment advisers in 2012 but failed to do so. The SEC also claims that Concord coordinated investment decisions with offshore entities controlled by Abramovich to keep his involvement hidden.

via The New York Times|
#concord-management#finance#investment-adviser