The SEC declined enforcement against BlackRock and State Street following a climate engagement investigation, but warned coordinated shareholder actions could compromise passive investor status and trigger regulatory and disclosure obligations.
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SEC Drops Investigation into BlackRock, State Street, with a Warning Over Participation in Climate Groups
SEC closes its investigation while warning asset managers about coordinated climate engagement.
The SEC declined enforcement against BlackRock and State Street following a climate engagement investigation, but warned coordinated shareholder actions could compromise passive investor status and trigger regulatory and disclosure obligations.
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