SEC fines Black Rock Investment for Conflict of Interest with Daniel Rice

Apparently the SEC is scrutinizing conflict of interest situations.    Article written by a Reuters reporter appeared in Pittsburgh Post Gazette   4/23/15.

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Permalink Reply by Dexter Green on April 24, 2015 at 3:45am

$12,000,000 fine...that's funny.  That's like a speeding ticket for the rest of us.

Permalink Reply by Tim Tarr on April 24, 2015 at 6:18am

     " Failed to disclose the conflict to the boards of the BlackRock funds and Investors"

So how much of that $12mm will go to the "fund and Investors".  I'll bet investors are paying the fine !!!!

Permalink Reply by Dexter Green on April 24, 2015 at 11:03am

Kind of like when JPM settles with the DOJ and pays them billions of shareholder's money, a tiny fraction of which eventually makes it back to the alleged victims of mortgage fraud.

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