Saturday, May 2, 2015

SEC News - Breach of Fiduciary Duty, Whistleblower Award, Failure to Make Public Filings

BlackRock Advisors Charged With Failing to Disclose Conflict of Interest to Clients and Fund Boards
BlackRock Advisors LLC has been charged with breaching its fiduciary duty by failing to disclose a conflict of interest created by the outside business activity of a top-performing portfolio manager.

SEC Announces Million-Dollar Whistleblower Award to Compliance Officer
An award of more than a million dollars has been awarded to a compliance professional who provided information that assisted the SEC in an enforcement action against the whistleblower’s company.

Issuer Charged for Failing to Make Public Filings
W2007 Grace Acquisition I Inc., a real estate investment firm, now faces charges for failing to make required public filings. W2007 Grace, which is indirectly owned by one or more private equity funds affiliated with The Goldman Sachs Group Inc., has agreed to pay $640,000 to settle the SEC’s charges relating to eight missed filings.
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