The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
BlackRock is set to trim its workforce by 3 percent, spelling potential layoffs for around 600 employees. This move, as reported by Fox Business<\/em>, comes as the company aims to navigate internal adjustments and external market dynamics.<\/p>\n\n\n\n The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
BlackRock is set to trim its workforce by 3 percent, spelling potential layoffs for around 600 employees. This move, as reported by Fox Business<\/em>, comes as the company aims to navigate internal adjustments and external market dynamics.<\/p>\n\n\n\n The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
BlackRock is set to trim its workforce by 3 percent, spelling potential layoffs for around 600 employees. This move, as reported by Fox Business<\/em>, comes as the company aims to navigate internal adjustments and external market dynamics.<\/p>\n\n\n\n The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
BlackRock is set to trim its workforce by 3 percent, spelling potential layoffs for around 600 employees. This move, as reported by Fox Business<\/em>, comes as the company aims to navigate internal adjustments and external market dynamics.<\/p>\n\n\n\n The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Pawan Passi, slapped with a $250,000 civil penalty by the SEC, is barred from working in the industry. However, he has secured a deferred prosecution agreement with the US attorney, contingent on demonstrating good behavior. Passi's admission of misconduct sheds light on the intense government scrutiny faced by Wall Street regarding block trading practices.<\/p>\n","post_title":"SEC Hits Morgan Stanley With $249 Million Fine In Block Trading Probe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-hits-morgan-stanley-with-249-million-fine-in-block-trading-probe","to_ping":"","pinged":"","post_modified":"2024-01-15 02:56:44","post_modified_gmt":"2024-01-14 15:56:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14916,"post_author":"1","post_date":"2024-01-08 02:16:23","post_date_gmt":"2024-01-07 15:16:23","post_content":"\n BlackRock is set to trim its workforce by 3 percent, spelling potential layoffs for around 600 employees. This move, as reported by Fox Business<\/em>, comes as the company aims to navigate internal adjustments and external market dynamics.<\/p>\n\n\n\n The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Block trades, involving bulk sales of shares by investment banks, are crucial market movers. The practice of \"wall crossing,\" where bankers communicate with potential buyers ahead of trades, comes with inherent risks. Morgan Stanley's breach of trust reveals the challenges of maintaining confidentiality <\/a>and the potential market impact when such information is leaked, the Financial Times<\/em> reported.<\/p>\n\n\n\n Pawan Passi, slapped with a $250,000 civil penalty by the SEC, is barred from working in the industry. However, he has secured a deferred prosecution agreement with the US attorney, contingent on demonstrating good behavior. Passi's admission of misconduct sheds light on the intense government scrutiny faced by Wall Street regarding block trading practices.<\/p>\n","post_title":"SEC Hits Morgan Stanley With $249 Million Fine In Block Trading Probe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-hits-morgan-stanley-with-249-million-fine-in-block-trading-probe","to_ping":"","pinged":"","post_modified":"2024-01-15 02:56:44","post_modified_gmt":"2024-01-14 15:56:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14916,"post_author":"1","post_date":"2024-01-08 02:16:23","post_date_gmt":"2024-01-07 15:16:23","post_content":"\n BlackRock is set to trim its workforce by 3 percent, spelling potential layoffs for around 600 employees. This move, as reported by Fox Business<\/em>, comes as the company aims to navigate internal adjustments and external market dynamics.<\/p>\n\n\n\n The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The SEC and the US attorney's office in Manhattan orchestrated a comprehensive probe, leading to a $249 million settlement, with $153 million in penalties from the Department of Justice. Gensler has condemned Morgan Stanley, stating that the bank and Passi abused sellers' trust by leaking confidential information and using it to gain an advantage in trades.<\/p>\n\n\n\n Block trades, involving bulk sales of shares by investment banks, are crucial market movers. The practice of \"wall crossing,\" where bankers communicate with potential buyers ahead of trades, comes with inherent risks. Morgan Stanley's breach of trust reveals the challenges of maintaining confidentiality <\/a>and the potential market impact when such information is leaked, the Financial Times<\/em> reported.<\/p>\n\n\n\n Pawan Passi, slapped with a $250,000 civil penalty by the SEC, is barred from working in the industry. However, he has secured a deferred prosecution agreement with the US attorney, contingent on demonstrating good behavior. Passi's admission of misconduct sheds light on the intense government scrutiny faced by Wall Street regarding block trading practices.<\/p>\n","post_title":"SEC Hits Morgan Stanley With $249 Million Fine In Block Trading Probe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-hits-morgan-stanley-with-249-million-fine-in-block-trading-probe","to_ping":"","pinged":"","post_modified":"2024-01-15 02:56:44","post_modified_gmt":"2024-01-14 15:56:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14916,"post_author":"1","post_date":"2024-01-08 02:16:23","post_date_gmt":"2024-01-07 15:16:23","post_content":"\n BlackRock is set to trim its workforce by 3 percent, spelling potential layoffs for around 600 employees. This move, as reported by Fox Business<\/em>, comes as the company aims to navigate internal adjustments and external market dynamics.<\/p>\n\n\n\n The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The SEC and the US attorney's office in Manhattan orchestrated a comprehensive probe, leading to a $249 million settlement, with $153 million in penalties from the Department of Justice. Gensler has condemned Morgan Stanley, stating that the bank and Passi abused sellers' trust by leaking confidential information and using it to gain an advantage in trades.<\/p>\n\n\n\n Block trades, involving bulk sales of shares by investment banks, are crucial market movers. The practice of \"wall crossing,\" where bankers communicate with potential buyers ahead of trades, comes with inherent risks. Morgan Stanley's breach of trust reveals the challenges of maintaining confidentiality <\/a>and the potential market impact when such information is leaked, the Financial Times<\/em> reported.<\/p>\n\n\n\n Pawan Passi, slapped with a $250,000 civil penalty by the SEC, is barred from working in the industry. However, he has secured a deferred prosecution agreement with the US attorney, contingent on demonstrating good behavior. Passi's admission of misconduct sheds light on the intense government scrutiny faced by Wall Street regarding block trading practices.<\/p>\n","post_title":"SEC Hits Morgan Stanley With $249 Million Fine In Block Trading Probe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-hits-morgan-stanley-with-249-million-fine-in-block-trading-probe","to_ping":"","pinged":"","post_modified":"2024-01-15 02:56:44","post_modified_gmt":"2024-01-14 15:56:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14916,"post_author":"1","post_date":"2024-01-08 02:16:23","post_date_gmt":"2024-01-07 15:16:23","post_content":"\n BlackRock is set to trim its workforce by 3 percent, spelling potential layoffs for around 600 employees. This move, as reported by Fox Business<\/em>, comes as the company aims to navigate internal adjustments and external market dynamics.<\/p>\n\n\n\n The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>Morgan Stanley to Slash 3,000 Jobs Amid Market Uncertainty<\/a><\/p>\n\n\n\n The SEC and the US attorney's office in Manhattan orchestrated a comprehensive probe, leading to a $249 million settlement, with $153 million in penalties from the Department of Justice. Gensler has condemned Morgan Stanley, stating that the bank and Passi abused sellers' trust by leaking confidential information and using it to gain an advantage in trades.<\/p>\n\n\n\n Block trades, involving bulk sales of shares by investment banks, are crucial market movers. The practice of \"wall crossing,\" where bankers communicate with potential buyers ahead of trades, comes with inherent risks. Morgan Stanley's breach of trust reveals the challenges of maintaining confidentiality <\/a>and the potential market impact when such information is leaked, the Financial Times<\/em> reported.<\/p>\n\n\n\n Pawan Passi, slapped with a $250,000 civil penalty by the SEC, is barred from working in the industry. However, he has secured a deferred prosecution agreement with the US attorney, contingent on demonstrating good behavior. Passi's admission of misconduct sheds light on the intense government scrutiny faced by Wall Street regarding block trading practices.<\/p>\n","post_title":"SEC Hits Morgan Stanley With $249 Million Fine In Block Trading Probe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-hits-morgan-stanley-with-249-million-fine-in-block-trading-probe","to_ping":"","pinged":"","post_modified":"2024-01-15 02:56:44","post_modified_gmt":"2024-01-14 15:56:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14916,"post_author":"1","post_date":"2024-01-08 02:16:23","post_date_gmt":"2024-01-07 15:16:23","post_content":"\n BlackRock is set to trim its workforce by 3 percent, spelling potential layoffs for around 600 employees. This move, as reported by Fox Business<\/em>, comes as the company aims to navigate internal adjustments and external market dynamics.<\/p>\n\n\n\n The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
\"Instead, Morgan Stanley and Passi abused that trust by leaking that same information and using it to position themselves ahead of those trades. While their conduct may have earned them tens of millions of dollars on low-risk trades, it violated the federal securities laws. Thanks to the hard work of the SEC staff, they are being held accountable.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>Morgan Stanley to Slash 3,000 Jobs Amid Market Uncertainty<\/a><\/p>\n\n\n\n The SEC and the US attorney's office in Manhattan orchestrated a comprehensive probe, leading to a $249 million settlement, with $153 million in penalties from the Department of Justice. Gensler has condemned Morgan Stanley, stating that the bank and Passi abused sellers' trust by leaking confidential information and using it to gain an advantage in trades.<\/p>\n\n\n\n Block trades, involving bulk sales of shares by investment banks, are crucial market movers. The practice of \"wall crossing,\" where bankers communicate with potential buyers ahead of trades, comes with inherent risks. Morgan Stanley's breach of trust reveals the challenges of maintaining confidentiality <\/a>and the potential market impact when such information is leaked, the Financial Times<\/em> reported.<\/p>\n\n\n\n Pawan Passi, slapped with a $250,000 civil penalty by the SEC, is barred from working in the industry. However, he has secured a deferred prosecution agreement with the US attorney, contingent on demonstrating good behavior. Passi's admission of misconduct sheds light on the intense government scrutiny faced by Wall Street regarding block trading practices.<\/p>\n","post_title":"SEC Hits Morgan Stanley With $249 Million Fine In Block Trading Probe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-hits-morgan-stanley-with-249-million-fine-in-block-trading-probe","to_ping":"","pinged":"","post_modified":"2024-01-15 02:56:44","post_modified_gmt":"2024-01-14 15:56:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14916,"post_author":"1","post_date":"2024-01-08 02:16:23","post_date_gmt":"2024-01-07 15:16:23","post_content":"\n BlackRock is set to trim its workforce by 3 percent, spelling potential layoffs for around 600 employees. This move, as reported by Fox Business<\/em>, comes as the company aims to navigate internal adjustments and external market dynamics.<\/p>\n\n\n\n The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The SEC's Chair, Gary Gensler, mentioned: \"Sellers entrusted Morgan Stanley and Passi with material non-public information concerning upcoming block trades with the full expectation and understanding that they would keep it confidential.\"<\/p>\n\n\n\n \"Instead, Morgan Stanley and Passi abused that trust by leaking that same information and using it to position themselves ahead of those trades. While their conduct may have earned them tens of millions of dollars on low-risk trades, it violated the federal securities laws. Thanks to the hard work of the SEC staff, they are being held accountable.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>Morgan Stanley to Slash 3,000 Jobs Amid Market Uncertainty<\/a><\/p>\n\n\n\n The SEC and the US attorney's office in Manhattan orchestrated a comprehensive probe, leading to a $249 million settlement, with $153 million in penalties from the Department of Justice. Gensler has condemned Morgan Stanley, stating that the bank and Passi abused sellers' trust by leaking confidential information and using it to gain an advantage in trades.<\/p>\n\n\n\n Block trades, involving bulk sales of shares by investment banks, are crucial market movers. The practice of \"wall crossing,\" where bankers communicate with potential buyers ahead of trades, comes with inherent risks. Morgan Stanley's breach of trust reveals the challenges of maintaining confidentiality <\/a>and the potential market impact when such information is leaked, the Financial Times<\/em> reported.<\/p>\n\n\n\n Pawan Passi, slapped with a $250,000 civil penalty by the SEC, is barred from working in the industry. However, he has secured a deferred prosecution agreement with the US attorney, contingent on demonstrating good behavior. Passi's admission of misconduct sheds light on the intense government scrutiny faced by Wall Street regarding block trading practices.<\/p>\n","post_title":"SEC Hits Morgan Stanley With $249 Million Fine In Block Trading Probe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-hits-morgan-stanley-with-249-million-fine-in-block-trading-probe","to_ping":"","pinged":"","post_modified":"2024-01-15 02:56:44","post_modified_gmt":"2024-01-14 15:56:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14916,"post_author":"1","post_date":"2024-01-08 02:16:23","post_date_gmt":"2024-01-07 15:16:23","post_content":"\n BlackRock is set to trim its workforce by 3 percent, spelling potential layoffs for around 600 employees. This move, as reported by Fox Business<\/em>, comes as the company aims to navigate internal adjustments and external market dynamics.<\/p>\n\n\n\n The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
According to a statement <\/a>by the regulator, these allegations involve improperly leaking confidential information ahead of bulk share sales. Morgan Stanley, a longstanding dominator in block trades, has been under SEC scrutiny since 2019. Pawan Passi, the former Head of the US Equity Syndicate Desk, faced charges of breaching trust by leaking confidential information.<\/p>\n\n\n\n The SEC's Chair, Gary Gensler, mentioned: \"Sellers entrusted Morgan Stanley and Passi with material non-public information concerning upcoming block trades with the full expectation and understanding that they would keep it confidential.\"<\/p>\n\n\n\n \"Instead, Morgan Stanley and Passi abused that trust by leaking that same information and using it to position themselves ahead of those trades. While their conduct may have earned them tens of millions of dollars on low-risk trades, it violated the federal securities laws. Thanks to the hard work of the SEC staff, they are being held accountable.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>Morgan Stanley to Slash 3,000 Jobs Amid Market Uncertainty<\/a><\/p>\n\n\n\n The SEC and the US attorney's office in Manhattan orchestrated a comprehensive probe, leading to a $249 million settlement, with $153 million in penalties from the Department of Justice. Gensler has condemned Morgan Stanley, stating that the bank and Passi abused sellers' trust by leaking confidential information and using it to gain an advantage in trades.<\/p>\n\n\n\n Block trades, involving bulk sales of shares by investment banks, are crucial market movers. The practice of \"wall crossing,\" where bankers communicate with potential buyers ahead of trades, comes with inherent risks. Morgan Stanley's breach of trust reveals the challenges of maintaining confidentiality <\/a>and the potential market impact when such information is leaked, the Financial Times<\/em> reported.<\/p>\n\n\n\n Pawan Passi, slapped with a $250,000 civil penalty by the SEC, is barred from working in the industry. However, he has secured a deferred prosecution agreement with the US attorney, contingent on demonstrating good behavior. Passi's admission of misconduct sheds light on the intense government scrutiny faced by Wall Street regarding block trading practices.<\/p>\n","post_title":"SEC Hits Morgan Stanley With $249 Million Fine In Block Trading Probe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-hits-morgan-stanley-with-249-million-fine-in-block-trading-probe","to_ping":"","pinged":"","post_modified":"2024-01-15 02:56:44","post_modified_gmt":"2024-01-14 15:56:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14916,"post_author":"1","post_date":"2024-01-08 02:16:23","post_date_gmt":"2024-01-07 15:16:23","post_content":"\n BlackRock is set to trim its workforce by 3 percent, spelling potential layoffs for around 600 employees. This move, as reported by Fox Business<\/em>, comes as the company aims to navigate internal adjustments and external market dynamics.<\/p>\n\n\n\n The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Morgan Stanley has agreed to pay $249 million to settle federal investigations surrounding misconduct in its lucrative block trading business. The Securities and Exchange Commission (SEC) has charged the bank and its former Head of the US Equity Syndicate desk with fraud.<\/p>\n\n\n\n According to a statement <\/a>by the regulator, these allegations involve improperly leaking confidential information ahead of bulk share sales. Morgan Stanley, a longstanding dominator in block trades, has been under SEC scrutiny since 2019. Pawan Passi, the former Head of the US Equity Syndicate Desk, faced charges of breaching trust by leaking confidential information.<\/p>\n\n\n\n The SEC's Chair, Gary Gensler, mentioned: \"Sellers entrusted Morgan Stanley and Passi with material non-public information concerning upcoming block trades with the full expectation and understanding that they would keep it confidential.\"<\/p>\n\n\n\n \"Instead, Morgan Stanley and Passi abused that trust by leaking that same information and using it to position themselves ahead of those trades. While their conduct may have earned them tens of millions of dollars on low-risk trades, it violated the federal securities laws. Thanks to the hard work of the SEC staff, they are being held accountable.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>Morgan Stanley to Slash 3,000 Jobs Amid Market Uncertainty<\/a><\/p>\n\n\n\n The SEC and the US attorney's office in Manhattan orchestrated a comprehensive probe, leading to a $249 million settlement, with $153 million in penalties from the Department of Justice. Gensler has condemned Morgan Stanley, stating that the bank and Passi abused sellers' trust by leaking confidential information and using it to gain an advantage in trades.<\/p>\n\n\n\n Block trades, involving bulk sales of shares by investment banks, are crucial market movers. The practice of \"wall crossing,\" where bankers communicate with potential buyers ahead of trades, comes with inherent risks. Morgan Stanley's breach of trust reveals the challenges of maintaining confidentiality <\/a>and the potential market impact when such information is leaked, the Financial Times<\/em> reported.<\/p>\n\n\n\n Pawan Passi, slapped with a $250,000 civil penalty by the SEC, is barred from working in the industry. However, he has secured a deferred prosecution agreement with the US attorney, contingent on demonstrating good behavior. Passi's admission of misconduct sheds light on the intense government scrutiny faced by Wall Street regarding block trading practices.<\/p>\n","post_title":"SEC Hits Morgan Stanley With $249 Million Fine In Block Trading Probe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-hits-morgan-stanley-with-249-million-fine-in-block-trading-probe","to_ping":"","pinged":"","post_modified":"2024-01-15 02:56:44","post_modified_gmt":"2024-01-14 15:56:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14916,"post_author":"1","post_date":"2024-01-08 02:16:23","post_date_gmt":"2024-01-07 15:16:23","post_content":"\n BlackRock is set to trim its workforce by 3 percent, spelling potential layoffs for around 600 employees. This move, as reported by Fox Business<\/em>, comes as the company aims to navigate internal adjustments and external market dynamics.<\/p>\n\n\n\n The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\n See Related:<\/strong> BlackRock Bitcoin ETF's Outline Market Manipulation Control<\/a><\/p>\n\n\n\n While facing setbacks in the US, ESG remains a significant force for BlackRock's international clientele, especially in Europe and the Middle East. Simultaneously, the firm eagerly anticipates SEC approval for its spot Bitcoin exchange-traded fund (ETF), a groundbreaking step in crypto investments.<\/p>\n\n\n\n The Securities and Exchange Commission (SEC) is on the verge of a transformative decision<\/a> that could pave the way for the approval of spot Bitcoin ETF in the United States.<\/p>\n\n\n\n Recent discussions between investment management firms, stock exchanges, and the SEC involve refining crucial S-1 prospectus documents integral for ETF approval. Notably, some asset managers intend to update their filings, disclosing specific details regarding fees and market-maker identities ahead of Monday's deadline.<\/p>\n\n\n\n The SEC's recent formal requests have included calls for aspiring ETF launchers to seek an accelerated effective date. Bloomberg's report indicates the possibility of an SEC commissioner vote on the 19b-4 rule changes, potentially scheduled for Wednesday.<\/p>\n","post_title":"BlackRock Plans 3% Job Cuts Amidst Bitcoin ETF Anticipation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-plans-3-job-cuts-amidst-bitcoin-etf-anticipation","to_ping":"","pinged":"","post_modified":"2024-01-08 02:16:32","post_modified_gmt":"2024-01-07 15:16:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14916","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Morgan Stanley has agreed to pay $249 million to settle federal investigations surrounding misconduct in its lucrative block trading business. The Securities and Exchange Commission (SEC) has charged the bank and its former Head of the US Equity Syndicate desk with fraud.<\/p>\n\n\n\n According to a statement <\/a>by the regulator, these allegations involve improperly leaking confidential information ahead of bulk share sales. Morgan Stanley, a longstanding dominator in block trades, has been under SEC scrutiny since 2019. Pawan Passi, the former Head of the US Equity Syndicate Desk, faced charges of breaching trust by leaking confidential information.<\/p>\n\n\n\n The SEC's Chair, Gary Gensler, mentioned: \"Sellers entrusted Morgan Stanley and Passi with material non-public information concerning upcoming block trades with the full expectation and understanding that they would keep it confidential.\"<\/p>\n\n\n\n \"Instead, Morgan Stanley and Passi abused that trust by leaking that same information and using it to position themselves ahead of those trades. While their conduct may have earned them tens of millions of dollars on low-risk trades, it violated the federal securities laws. Thanks to the hard work of the SEC staff, they are being held accountable.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>Morgan Stanley to Slash 3,000 Jobs Amid Market Uncertainty<\/a><\/p>\n\n\n\n The SEC and the US attorney's office in Manhattan orchestrated a comprehensive probe, leading to a $249 million settlement, with $153 million in penalties from the Department of Justice. Gensler has condemned Morgan Stanley, stating that the bank and Passi abused sellers' trust by leaking confidential information and using it to gain an advantage in trades.<\/p>\n\n\n\n Block trades, involving bulk sales of shares by investment banks, are crucial market movers. The practice of \"wall crossing,\" where bankers communicate with potential buyers ahead of trades, comes with inherent risks. Morgan Stanley's breach of trust reveals the challenges of maintaining confidentiality <\/a>and the potential market impact when such information is leaked, the Financial Times<\/em> reported.<\/p>\n\n\n\n Pawan Passi, slapped with a $250,000 civil penalty by the SEC, is barred from working in the industry. However, he has secured a deferred prosecution agreement with the US attorney, contingent on demonstrating good behavior. Passi's admission of misconduct sheds light on the intense government scrutiny faced by Wall Street regarding block trading practices.<\/p>\n","post_title":"SEC Hits Morgan Stanley With $249 Million Fine In Block Trading Probe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-hits-morgan-stanley-with-249-million-fine-in-block-trading-probe","to_ping":"","pinged":"","post_modified":"2024-01-15 02:56:44","post_modified_gmt":"2024-01-14 15:56:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14916,"post_author":"1","post_date":"2024-01-08 02:16:23","post_date_gmt":"2024-01-07 15:16:23","post_content":"\n BlackRock is set to trim its workforce by 3 percent, spelling potential layoffs for around 600 employees. This move, as reported by Fox Business<\/em>, comes as the company aims to navigate internal adjustments and external market dynamics.<\/p>\n\n\n\n The impending job cuts, while labeled as routine internally<\/a>, signify a notable shift for BlackRock. After years of asset growth, the firm seems to be settling into a more mature phase, as evidenced by declining assets under management (AUM), currently at $9 trillion from a high of over $10 trillion in 2022.<\/p>\n\n\n\n BlackRock's venture into Environmental Social Governance (ESG) investment strategy has led to controversy. The company, now downplaying its ESG operations in the US, faces criticism amid asset declines within 'green' investment funds.<\/p>\n\n\n\n Despite the layoffs, BlackRock is reportedly steering its resources toward tech investment and alternative products, signaling a strategic shift from traditional stocks and bonds.<\/p>\n\n\n\nBlackRock's ESG Controversy<\/h2>\n\n\n\n
BlackRock's ESG Controversy<\/h2>\n\n\n\n
BlackRock's ESG Controversy<\/h2>\n\n\n\n
BlackRock's ESG Controversy<\/h2>\n\n\n\n
BlackRock's ESG Controversy<\/h2>\n\n\n\n
BlackRock's ESG Controversy<\/h2>\n\n\n\n
BlackRock's ESG Controversy<\/h2>\n\n\n\n
BlackRock's ESG Controversy<\/h2>\n\n\n\n
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BlackRock's ESG Controversy<\/h2>\n\n\n\n
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BlackRock's ESG Controversy<\/h2>\n\n\n\n
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BlackRock's ESG Controversy<\/h2>\n\n\n\n
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BlackRock's ESG Controversy<\/h2>\n\n\n\n
Breach of Trust in Block Trading<\/h2>\n\n\n\n
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BlackRock's ESG Controversy<\/h2>\n\n\n\n
Breach of Trust in Block Trading<\/h2>\n\n\n\n
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BlackRock's ESG Controversy<\/h2>\n\n\n\n
Breach of Trust in Block Trading<\/h2>\n\n\n\n
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BlackRock's ESG Controversy<\/h2>\n\n\n\n
Breach of Trust in Block Trading<\/h2>\n\n\n\n
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BlackRock's ESG Controversy<\/h2>\n\n\n\n
Breach of Trust in Block Trading<\/h2>\n\n\n\n
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BlackRock's ESG Controversy<\/h2>\n\n\n\n
Breach of Trust in Block Trading<\/h2>\n\n\n\n
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BlackRock's ESG Controversy<\/h2>\n\n\n\n
Breach of Trust in Block Trading<\/h2>\n\n\n\n
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