Blackrock is the world’s largest asset manager and it’s revealed that it has recieved a Wells notice, which is something the U.S. Securities and Exchange Commission sends to a company when it is planning to take enforcement action against them.
Given the gigantic settlements the US has made with BNP Paribas recently the market is jittery but this doesn’t look like anything too damaging. It relates to a conflict of interest with employee Daniel Rice III and investments in Rice Energy LP.
Someone at Bloomberg has a red face over this headline:
Overdraft? bounced check? New fees? What could it be?
