BlackRock Managers Pause Meetings Due to New ESG Rules

BlackRock has temporarily paused meetings with some portfolio companies while studying the impact of new reporting rules from the U.S. Securities and Exchange Commission, according to people familiar with the matter.

The top U.S. asset manager is among those affected by a recent SEC interpretation requiring fund firms to file more extensive ownership disclosures when they pressure asset managers over certain environmental, social or governance (ESG) matters.

News of BlackRock's action was first reported by Semafor.