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BREAKING: Indiana has issued a cease and desist order against BlackRock, accusing the investment giant of fraudulent actions related to its ESG products and offerings.
Indiana issues cease and desist order against BlackRock, alleging misleading ESG statements https://t.co/J54NrJFJEG
Yesterday’s action by Mr. Morales is a politically motivated attack that completely mischaracterizes BlackRock’s approach to investing. We are only focused on helping hundreds of thousands of Hoosier clients achieve their investment goals. We intend to defend ourselves and our…
Australia’s corporate watchdog has called on the financial services sector to intensify efforts against greenwashing, following its actions in numerous cases. Concurrently, the state of Indiana has issued a cease-and-desist order against BlackRock, citing alleged securities fraud linked to the asset manager's environmental, social, and governance (ESG) investment products. BlackRock has responded, claiming that the cease-and-desist order is politically motivated and misrepresents its investment strategies, emphasizing its commitment to assisting clients in achieving their investment objectives. The situation highlights growing scrutiny over the practices of financial firms in relation to ESG claims.