Pimco, BlackRock Seen Thwarted in Bid for Block Trade Exemption

The world’s biggest corporate-bond investors are coming up short in persuading regulators to loosen trade disclosure rules, a measure they have argued is key to easing the market’s liquidity woes.

The Financial Industry Regulatory Authority is likely to oppose a request by money managers including BlackRock Inc. and Pacific Investment Management Co. to delay the public disclosure of large trades, according to people with knowledge of the matter. After five months of meetings and calls among regulators, Wall Street banks and investors, Finra is finalizing its review of the proposals, said one of the people, who asked not to be identified because the discussions are private.