January 23, 2023

Bloomberg Finance L.P. has been ordered to pay $5 million to settle charges of making misleading disclosures related to BVAL, a paid subscription service that provides daily price valuations for fixed-income securities.  According to the order, Bloomberg failed to disclose that its valuations for certain fixed-income securities did not adhere to previously disclosed methodologies.  Financial service entities that relied on such valuations, including mutual funds, were impacted by the misleading disclosures.  SEC

Tagged in: Financial Institution Fraud,