Express News | BlackRock : KBW Cuts Target Price to $1160 From $1225

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The FDIC has extended the deadline for Blackrock (BLK.US) to resolve investment regulatory issues at the Banks until the 10th of next month.

The Federal Deposit Insurance Corporation (FDIC) has extended the deadline for Asset Management company Blackrock (BLK.US) to resolve the investment supervision issue at FDIC-regulated Banks until the 10th of next month. Reports indicate that if Blackrock fails to make sufficient progress in addressing the issue, the FDIC may initiate an investigation and require the company to provide additional information. Blackrock sent a letter to the regulators last Thursday (9th), requesting the FDIC to extend the deadline for reaching an agreement on the related issues to March 31. The original deadline was last Friday (10th). Vanguard Investments reached an agreement with the FDIC last December.

AASTOCKS15:09

The USA FDIC requires Blackrock to resolve issues related to bank investment regulation by February 10.

On January 13th, according to Bloomberg citing informed sources, the Federal Deposit Insurance Corporation (FDIC) set a new deadline of February 10th for Blackrock to address issues regarding the investment regulation of Institutions under FDIC supervision. Reports suggest that if Blackrock fails to make sufficient progress in resolving the issues, the FDIC may initiate an investigation into Blackrock and request more information from the company.

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Express News | The Fdic Granted a Fresh Deadline of Feb. 10 to BlackRock to Resolve Issue Regarding Oversight of Co’s Stakes in Banks - Bloomberg News

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