Legal News

Blackrock Agrees to Complete Analyst Survey
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

BlackRock, is one of the world’s largest fixed income and risk management companies. In the wake of the global financial crisis, BlackRock was commissioned to help the U.S. government evaluate its distressed assets in 2009. According to Ralph Schlosstein, CEO of Evercore Partners, the  New York-based investment bank “BlackRock today is one of, if not the, most influential financial institutions in the world”.   BlackRock Inc. has agreed to end an analyst survey program and also agreed to discontinue use of the program worldwide. The program was developed by Scientific Active Equities, an investment group within Barclay’s Global Investors. BlackRock acquired Barclays, which began as units of Wells Fargo Nikko and Barclays Bank in 2009. The program relied on the cooperation of analysts to relay advance information. That information could be used to execute non-public information trades – and there is the rub. It may seem unfair to some, but to those others, as they develop research and their own proprietary information and models- it doesn’t seem unfair at all. However, new stringent laws are making it harder and harder for financial institutions to trade and take risks when they have their hands tied, and when the walls are closing in on them. Their leverage is decreased, their model building capacity is shrinking, and their fundamental money making business- is now overregulated.

According to Bloomberg News, the information from the survey which was sought included analyst views on the likelihood of a surprise to their forecasted earnings, estimate and the possibility a company they cover would be acquired in a merger, according to the pact. New York said analysts gave earnings predictions they had yet to make public.   New York Attorney General Eric Schneiderman stated that the program could be used to execute trades based in part on nonpublic information. Based in New York City, Blackrock is a multinational investment management corporation. The company was founded in 1988 as a major provider of investment, advisory and risk management services, and over the past decades became one of the world’s largest risk management and fixed income institutional asset managers. For jobs at BlackRock, click here.

  
What
Where


SUMMARY

BlackRock Inc. has agreed to end an analyst survey program worldwide. The program was developed by Scientific Active Equities, which relied on the cooperation of analysts to relay advance information. That information could be used to execute non-public information trades- New stringent laws are making it harder and harder for financial institutions to trade and take risks. Wall Street now has their hands tied, and the walls are closing in. Their leverage is decreased, their model building capacity is shrinking, and their fundamental money making business- is now overregulated.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

RELEVANT JOBS

Legal Assistant

USA-LA-Baton Rouge

Legal Assistant/Paralegal needed for fast paced Downtown Personal Injury firm. Duties will include c...

Apply now

Real Estate Attorney - in house

USA-CA-San Diego

Are you looking to work with a company who believes in celebrating differences and empowering each o...

Apply now

Paralegal / Office Manager

USA-GA-Atlanta

Baker Jenner LLLP is a growing multi-disciplinary practice looking for a litigation paralegal with a...

Apply now

Associate Attorney

USA-FL-Fort Lauderdale

NOW HIRING ASSOCIATES! Candidates must be admitted and be a practicing attorney or recently admitted...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Corporate Advisory Associate Attorney

USA-IL-Chicago

Chicago office of a BCG Attorney Search Top Ranked Law Firm seeks corporate advisory associate attor...

Apply Now

Labor and Employment Associate Attorney

USA-CA-San Francisco

San Francisco office of a BCG Attorney Search Top Ranked Law Firm seeks labor and employment associa...

Apply Now

Land Use Associate Attorney

USA-CA-Costa Mesa

Costa Mesa office of a BCG Attorney Search Top Ranked Law Firm seeks a land use associate attorney w...

Apply Now

SEARCH IN ARCHIVE

To Top