Oklahoma Attorney General Gentner Drummond and 16 other state attorneys general are investigating how major asset managers disclose risks in Chinese investments. Firms under review include BlackRock, StateStreet, Invesco, JPMorgan, Goldman Sachs, and Morgan Stanley, according to the Office of the Attorney General.

A coalition has raised concerns that BlackRock and other asset managers may not fully disclose the risks of investing in China, which the U.S. has designated as an adversary. Their letter alleges that these firms downplay geopolitical tensions over Taiwan and describe Uyghur forced labor camps as "religious and nationalist disputes." It also states that BlackRock minimizes the impact of Chinese government influence on audits and corporate operations. Drummond stated, "It is deeply troubling that BlackRock and similar asset managers are concealing information from their investors about Chinese market risks," as reported by the Office of the Attorney General.

A group of U.S. attorneys general is reviewing asset managers' actions regarding investments in China, particularly after BlackRock was granted access to Chinese investors despite China’s designation as a foreign adversary. The review includes concerns about potential external influence or limited access to accurate information. Drummond stated this “may have breached BlackRock’s fiduciary duty of loyalty.” The firms have until March 10 to respond, as stated by the Office of the Attorney General.