Mississippi May Issue BlackRock ‘Multimillion-Dollar’ Fine Over ESG Investing Policies

Mississippi sent a cease-and-desist letter to BlackRock on Tuesday accusing the financial asset manager of misleading investors about its environmental, social, and governance policies and threatening to level a steep fine on the firm. The letter, from Mississippi Secretary of State Michael Watson, says that BlackRock may face a multimillion-dollar financial penalty if it does not comply with the state’s demands. BlackRock, which manages over $10 trillion in assets, has faced increasing scrutiny from Republican officials over its investing policies, especially in relation to its links to climate activist groups....