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(Added details and context, paragraphs 2 to 5)
The Federal Deposit Insurance Corporation has given BlackRock BLK.N another deadline until Feb. 10 to resolve an issue over oversight of the asset manager’s investments in FDIC-regulated banking organizations, Bloomberg News reported Sunday , citing three people with knowledge of the matter.
The FDIC could open an investigation into BlackRock and demand more information from the company if it doesn’t make enough progress to resolve the problems, according to the report.
The FDIC’s decision follows a Jan. 10 deadline that BlackRock failed to meet, according to the report.
Neither BlackRock nor the FDIC immediately responded to requests for comment made Sunday.
BlackRock has asked the FDIC to extend its deadline until March 31 to reach an agreement on how the agency would oversee the asset manager’s investments in banking organizations regulated by the FDIC, according to a letter that the company sent to regulators on Thursday and which Reuters was able to consult.
