BlackRock hit with 'cease and desist' after allegedly misleading investors about ESG practices

Mississippi Secretary of State Michael Watson and the Securities Division of the Secretary of State's Office have issued a "Cease and Desist Order" against asset manager BlackRock, alleging deceptive practices regarding the company's Environmental, Social, and Governance (ESG) commitments.

The order accuses BlackRock of repeatedly misleading Mississippi investors regarding its ESG practices, particularly concerning its non-ESG funds, such as exchange-traded funds (ETFs), which do not purport to follow a sustainable investment strategy. ---More...