By Sabela Ojea

The U.S. Securities and Exchange Commission on Thursday charged Randy Robertson, a former BlackRock Advisors LLC portfolio manager, with a penalty over allegedly failing to disclose a conflict of interest in relation to an investment.

Mr. Robertson agreed to pay a $250,000 penalty over his personal relationship with the film-distribution company in which the trust he co-managed invested millions of dollars.

From 2015 to 2019, BlackRock Multi-Sector Income Trust provided the subsidiaries of film-distribution holding company Aviron Group LLC as much as $75 million through loans, the SEC said.

But Mr. Robertson didn't reveal his relationship with the film company in advance, according to the SEC.

While Mr. Robertson recommended and oversaw the loans provided to Aviron subsidiaries, he asked the film company itself at the same time to help his daughter get roles in the movie industry, the SEC said.

Aviron helped Mr. Robertson's daughter obtain a small role in a film produced in 2018, the SEC added.

Aviron Group LLC is the holding company of Aviron Pictures.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

January 05, 2023 15:03 ET (20:03 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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