BlackRock Executive's Kasich Donation May Cost $37 Million
- IShares boss Wiedman inadvertently broke SEC rules, firm says
- Company seeking an exemption after $2,700 gift was refunded
Mark Wiedman
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
BlackRock Inc. faces a ban on collecting about $37 million in fees from Ohio public-sector clients after discovering that one of its top executives ran afoul of pay-to-play rules during last year’s presidential campaign.
Mark Wiedman, the head of BlackRock’s iShares unit, donated $2,700 to John Kasich in January 2016 during a fundraiser for the Ohio governor’s campaign to become the Republican presidential nominee, according to a regulatory filing.