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Tags: BlackRock | Danger | Reforms

BlackRock's Fink Sees Danger in Some Reforms

Wednesday, 09 December 2009 02:46 PM EST

BlackRock Inc. Chief Executive Officer Laurence Fink is worried that some financial regulatory proposals under consideration could do more harm than good.

Speaking at a Goldman Sachs financial services conference, Fink said regulation is a fact of life and necessary in some cases. But he's worried that some reforms under consideration will be "damaging" to investors and might prevent the securitization market from getting going.

Fink said he is particularly worried about any proposal that would impinge on the rights of "first lien holders" on mortgages in a securitized offering or bond.

"Investors need to be heard," he said.

Fink pointed out that BlackRock is now regulated by the Office of the Comptroller of the Currency following the completion of its acquisition of Barclays Global Investors.

He said the integration of BGI into BlackRock is off to a good start, adding it will probably take 18 months to complete.

© 2022 Thomson/Reuters. All rights reserved.


FinanceNews
BlackRock Inc. Chief Executive Officer Laurence Fink is worried that some financial regulatory proposals under consideration could do more harm than good.Speaking at a Goldman Sachs financial services conference, Fink said regulation is a fact of life and necessary in some...
BlackRock,,Danger,Reforms
149
2009-46-09
Wednesday, 09 December 2009 02:46 PM
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