BlackRock (BLK) loses a profit center as Esma rules European fund managers must return any money...

|By:, SA News Editor

BlackRock (BLK) loses a profit center as Esma rules European fund managers must return any money made from securities lending transactions back to investors. The company's iShares unit is a major player in this area, and BlackRock has argued the new rule (taking effect Feb 2013) will put it at a disadvantage to synthetic ETF providers.