Reported 5 days ago
The U.S. Federal Deposit Insurance Corporation (FDIC) has issued a January 10 deadline for BlackRock to agree to a deal that allows closer scrutiny of its investments in FDIC-regulated banks. This follows a similar agreement reached with Vanguard. The FDIC seeks 'passivity agreements' to ensure these asset managers do not influence bank operations, reinforcing monitoring of compliance. BlackRock contends it remains a passive investor, and the implications of missing the deadline are currently unclear.
Source: YAHOO