Defendant Name:
BlackRock, Inc.
Defendant Type:
Public Company
Document Reference:
2017-14
Document Details
Legal Case Name
In the Matter of BlackRock, Inc.
Document Name
BlackRock Charged with Removing Whistleblower Incentives in Separation Agreements
Document Date
17-Jan-2017
Document Format
Administrative Proceeding
Allegation Type
Other
Document Summary
On January 17, 2017 the SEC announced in a press release that BlackRock has agreed to pay a monetary penalty to settle charges that "it improperly used separation agreements in which exiting employees were forced to waive their ability to obtain whistleblower awards." According to the SEC: "more than 1,000 departing BlackRock employees signed separation agreements containing violative language stating that they “waive any right to recovery of incentives for reporting of misconduct” in order to receive their monetary separation
payments from the firm."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Remedial Acts or Efforts Before the Resolution