By Makini Brice
(Reuters) -The U.S. House Judiciary committee said it had subpoenaed BlackRock Inc and State Street Corp for documents and communications related to its probe into sufficiency of current antitrust laws to address environmental, social and governance (ESG) goals.
The committee has wrote to BlackRock and State Street on July 6, requesting documents. But response from both the companies on the request has been inadequate, the committee said in a statement.
BlackRock in August already drew scrutiny from the U.S. House committee on China that the New York-based asset manager was facilitating investments into blacklisted Chinese companies.
“Having already produced more than 7,700 documents and 91,000 pages, a subpoena was not necessary but we understand this is the Committee’s practice, and we will continue to cooperate,” BlackRock said on Friday.
State Street did not immediately respond to a Reuters request for comment.
House Judiciary Chairman Jim Jordan has earlier also sent a subpoena to asset manager Vanguard.
The company is “committed to working constructively with lawmakers and has cooperated with the Committee’s requests, including producing tens of thousands of pages of relevant documents to date,” Vanguard said.
Bloomberg News first reported the development earlier on Friday.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru and Carolina Mandl in New York; Editing by Maju Samuel)
