TechFlow reported that the SEC accused BlackRock of failing to accurately describe and disclose its investment in entertainment company Aviron Group. BlackRock's Multisector Income Trust Fund (BIT) made a significant investment in Aviron Group through a lending vehicle, but BlackRock incorrectly described Aviron as a "diversified financial services" company. This investment constituted a substantial portion of its publicly traded fund. To resolve the allegations, BlackRock agreed to pay a $2.5 million penalty.
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