From HedgeCo.Net: BlackRock has been fined £9.5 million ($15
million) by the UK Financial Services Authority. The worlds biggest asset
manager is said to have failed to follow rules protecting clients money,
Reuters reported. The problem occurred
after BlackRock bought Merrill Lynch Investment Managers Limited (now called
BIM) in 2006.
“The amount of client cash affected by the failure averaged
more than £1.36 billion daily between October 2006 and March 2010….”
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