BlackRock cooperating with SEC probe of investment advisers' communications

[February 25, 2023]  (Reuters) - BlackRock Inc said it was cooperating with a U.S. Securities and Exchange Commission investigation into record keeping of electronic communications of its investment advisers, according to a filing on Friday. 

The BlackRock logo is pictured outside their headquarters in the Manhattan borough of New York City, New York, U.S., May 25, 2021. REUTERS/Carlo Allegri//File Photo

The asset manager is the latest in a list of financial firms under the regulator's scrutiny. Earlier this week, Wells Fargo said U.S. regulators were investigating the bank's retention of employee communications over "unapproved" messaging tools.

The SEC and the Commodity Futures Trading Commission (CFTC) fined 16 financial firms last year, a combined $1.8 billion after it was found that their employees had discussed deals on personal devices and apps.

(Reporting by Anirban Chakroborti in Bengaluru)

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