Defendant Name: BlackRock Advisors, LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: BlackRock, Inc.
SIC Code: 6282
CUSIP: 09247X10

Initial Case Details

Legal Case Name In the Matter of BlackRock Advisors, LLC
First Document Date 24-Oct-2023
Initial Filing Format Administrative Action
File Number 3-21786
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Section 206(4) Advisers Act; Rule 206(4)-8 Advisers Act

Resolutions

First Resolution Date 24-Oct-2023
Headline Total Penalty and Disgorgement $2,500,000

Related Documents:

IA-6468 24-Oct-2023 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, and Sections 9(b) and 9(f) of the Investment Company Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On October 24, 2023, the SEC instituted settled administrative and cease-and-desist proceedings against BlackRock Advisors, LLC, stating: "BlackRock Advisors, LLC (“BlackRock”), a registered investment adviser to the BlackRock Multi-Sector Income Trust (“BIT”), a closed-end management investment company, failed to accurately describe a BIT investment in periodic reports filed with the Commission over a five-year period."
2023-226 24-Oct-2023 Press Release--Administrative Proceeding
SEC Charges BlackRock with Failing to Properly Disclose Investments by Publicly Traded Fund it Advised
On October 24, 2023, the SEC stated that: "[It] charged BlackRock Advisors, LLC, an investment adviser, for failing to accurately describe investments in the entertainment industry that comprised a significant portion of a publicly traded fund it advised. To settle the charges, BlackRock agreed to pay a $2.5 million penalty."