12/16/2023

House Subpoenas BlackRock, State Street in ESG Probe

They are investigating the companies' current antitrust laws

The U.S. House Judiciary committee said it had subpoenaed BlackRock, Inc. and State Street Corporation for documents and communications related to its probe into sufficiency of current antitrust laws to address environmental, social and governance (ESG) goals.

The committee has wrote to BlackRock and State Street on July 6, requesting documents. But response from both the companies on the request has been inadequate, the committee said in a statement.

In August, BlackRock drew scrutiny from the U.S. House committee on China that the New York-based asset manager was facilitating investments into blacklisted Chinese companies.

Please select this link to read the complete article from Reuters.