The SEC charged former BlackRock portfolio manager Randy Robertson with not disclosing a conflict of interest when he asked a client to help advance his daughter's acting career.
But while Robertson was watching over the loans, he also asked Aviron personnel if they could help his daughter’s acting career.
NEW YORK, NEW YORK - NOVEMBER 04: The headquarters of BlackRock stands in Manhattan as hundreds of members of the United Mine Workers of America march to the Manhattan financial company, the largest shareholder in the mining company Warrior MeIn 2018, Aviron allegedly helped Robertson’s daughter get a role in a film, but Robertson never disclosed that he sought Avrion’s help.
Robertson never admitted or denied the SEC’s findings but consented to the entry of the charges of violating Section 206 of the Investment Advisers Act of 1940.GET FOX BUSINESS ON THE GO BY CLICKING HERE "Investment professionals must be forthcoming about any conflicts of interest they may have with the companies in which they invest client funds, including situations involving favors or assistance to family members," said Andrew Dean, Co-Chief of the SEC’s Enforcement Division’s Asset Management Unit. "Investors must be able to know that the advice they receive is free of undisclosed conflicts, regardless of whether the conflict is financial in nature.
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