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2023-01-23 16:43:58

SEC fines Bloomberg $5 million for disclosure violations on fixed-income prices

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CNBC
By Chelsey Cox

Former mayor of New York Michael Bloomberg speaks during a meeting with Earthshot prize winners and finalists at the Glasgow Science Center during the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 2, 2021.

Alastair Grant | Reuters

The Securities and Exchange Commission fined Bloomberg Finance LP $5 million to settle civil charges accusing the company of misleading customers on how it calculated the prices of certain securities, the agency said Monday.

The SEC found that the company failed to disclose the methodologies it used to value certain fixed-income securities to users of its paid subscription service, BVAL, from at least 2016 through October 2022.

Continue read on cnbc.com

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