BlackRock, State Street subpoenaed by U.S. House in ESG probe By Reuters

<p> <br />
</p>
<div>
<div>
<img decoding="async" alt="BlackRock, State Street subpoenaed by U.S. House in ESG probe" id="carouselImage" src="https://i-invdn-com.investing.com/trkd-images/LYNXMPEJBE0O8_L.jpg" style="visibility:hidden" /><br />
<span>© Reuters. FILE PHOTO: A specialist trader works at the post where BlackRock is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 21, 2022. REUTERS/Brendan McDermid/File Photo</span><br />
<i class="imgGrad"/>
</div>
<p>By Makini Brice</p>
<p>(Reuters) -The U.S. House of Representatives Judiciary Committee said it had subpoenaed BlackRock (NYSE:) and <span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> State Street </span></span> (NYSE:) for documents and communications related to its probe into whether environmental, social and governance (ESG) efforts violate antitrust laws.</p>
<p>The committee 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.</p>
<p>“Having already produced more than 7,700 documents and 91,000 pages, a subpoena was not necessary but we understand this is the Committee’s practice, and we will continue to cooperate,” BlackRock said on Friday.</p>
<p>State Street said in a statement:</p>
<p>“We have cooperated fully with the committee and will continue to do so going forward. We remain confident that we have not violated any anti-trust laws.”</p>
<p>House Judiciary Chairman Jim Jordan had earlier also sent a subpoena to asset manager Vanguard. </p>
<p>The company is “committed to working constructively with lawmakers and has cooperated with the Committee’s requests, including producing tens of thousands of pages of relevant documents to date,” Vanguard said.</p>
<p>Bloomberg News first reported the development earlier on Friday.</p>
</div>
<p><br />
<br /><a href="https://www.investing.com/news/stock-market-news/blackrock-state-street-subpoenaed-by-house-in-esg-probe-3258053">Source link </a></p><p>The post <a href="https://forextraderhub.com/blackrock-state-street-subpoenaed-by-u-s-house-in-esg-probe-by-reuters.html">BlackRock, State Street subpoenaed by U.S. House in ESG probe By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>