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BlackRock

BlackRock, Inc.

United States

Financial Assets

Fixed Income

Money Market Funds

Overview

Issuer DescriptionBlackRock, founded in 1988, is a prominent fiduciary, managing investments for individuals and institutions with a focus on achieving risk-adjusted returns and supporting long-term goals. The company emphasizes accessibility by working to make investing more affordable, transparent, and approachable to a broader audience. Due to its large scale, BlackRock provides clients with a range of benefits, including access to a wider selection of investment options, lower fees, and competitive spreads on securities transactions. The iShares platform, which offers a broad array of exchange-traded funds (ETFs), is a key example of this approach, with ongoing fee reductions delivering savings for investors. These cost efficiencies extend beyond ETFs, as BlackRock’s scale has also contributed to significant fee reductions for mutual fund and ETF investors over the past five years. The company's focus on operational efficiency and cost savings supports both client success and shareholder value, enabling reinvestment and business growth. This approach has contributed to BlackRock’s strong performance among financial services stocks in the S&P 500 since its IPO. In March 2024, BlackRock launched its first tokenized fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), on a public blockchain. This fund allows qualified investors to earn U.S. dollar yields through tokenized ownership, offering benefits including instant settlement and 24/7 transferability via platforms such as Securitize Markets. The fund invests in cash and U.S. Treasury Bills, aiming for stable value, with major digital asset players like Anchorage, BitGo, and Coinbase supporting its infrastructure.

Personnel10000+

Year of Incorporation1988

Development StageMaturity Stage

Legal TypeRegular Corporation

Website

https://www.blackrock.com/

White Paper-

Terms & Conditions

https://www.blackrock.com/corporate/compliance/terms-and-conditions

https://www.blackrock.com/corporate/compliance/privacy-policy

Blockchain Ecosystems

contact.us@blackrock.com

Phone+1 (212) 810-5800

Legality & Financial Audit

Legal EntityBlackRock, Inc.

Registration Number4109022

Issuer IndustryInvestment & Asset Management

LEI549300LRIF3NWCU26A80

Audit

Yes

Finances AuditorDeloitte

Finances Audit Date2024-02-23

Additional CommentDeloitte & Touche LLP audited BlackRock, Inc.'s financial statements for the fiscal years ending December 31, 2023, and December 31, 2022, providing an unqualified opinion. This indicates that the financial statements accurately reflect the company's financial position, operational results, and cash flows in all material respects. Additionally, Deloitte assessed BlackRock's internal control over financial reporting, issuing an unqualified opinion on February 23, 2024. A critical audit matter identified during the audit related to the impairment of indefinite-lived intangible assets, specifically certain management contracts. Addressing this issue required a high degree of auditor judgment and enhanced efforts, which included the involvement of fair value specialists to support the assessment. More information can be found in BlackRock's annual report: (https://s24.q4cdn.com/856567660/files/doc_financials/2024/ar/BLK_AR23.pdf)

Regulatory Compliance

National Regulation

Yes

Asset Regulation

Yes

Token Regulation

Yes

Additional CommentBlackRock’s trading and investment activities for client accounts are regulated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as well as the rules of various U.S. and non-U.S. securities exchanges and self-regulatory organizations, including laws governing trading on inside information, market manipulation and a broad number of technical trading requirements (e.g., volume limitations, reporting obligations) and market regulation policies in the United States and globally.

Additional CommentThe BUIDL Fund, as an underlying asset, is regulated as a Professional Fund under the Securities and Investment Business Act (Revised 2020) in the British Virgin Islands (BVI). It is exempt from registration in the U.S. under Section 3(c)(7) of the Investment Company Act of 1940, allowing it to be offered to qualified purchasers without the stricter compliance requirements of registered investment companies.

Additional CommentBUIDL tokens, representing tokenized shares of the BUIDL Fund, are regulated under BVI law as part of the fund’s structure, which operates as a Professional Fund under the Securities and Investment Business Act (Revised 2020). In the U.S., they are offered to accredited investors under Rule 506(c) of Regulation D, with the tokens traded via blockchain but not subject to additional regulation beyond the fund’s compliance.

KYC/AML Information

KYC/AML Process

Yes

KYC/AML ProviderIn-house Service

Additional CommentBlackRock implements a comprehensive, risk-based compliance framework to ensure adherence to Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), and sanctions regulations across its operating jurisdictions. This framework is supported by a dedicated compliance leadership structure, including a Global Head of Financial Crime Compliance and regional compliance leaders. It encompasses entity-level financial crime risk assessments and detailed policies and procedures for customer due diligence aimed at identifying and verifying customer identities, sources of funds, and the objectives of business relationships. Enhanced due diligence is performed for higher-risk clients, complemented by robust transaction monitoring systems. The framework enforces stringent record-keeping and reporting requirements, including a prohibition on engagements with shell banks and compulsory financial crime training for relevant staff. Compliance effectiveness is subject to regular audits to ensure alignment with global standards established by authorities such as the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and other international regulatory bodies.

Risk Metrics

Ongoing Monitoring And Risk Management

Transparency And Reporting

Disaster Recovery And Business Continuity

Continuous Management Training (Procedure Descriptions)

Additional Comment-

Location

Primary Location

CountryUSA

Stage / RegionNew York

Postal Code10001

CityNew York