EU ‘reflecting’ on conflict of interest rules after BlackRock controversy

Bloc has come under fire for hiring manager of oil shares to work on environmental controls for banks

The EU is considering introducing new conflict of interest rules after it was criticised for hiring BlackRock, a major manager of oil company and financial shares, to work on new environmental rules for banks.

The European ombudsman found in November found that the European commission, the EU's executive arm, had not properly considered conflicts of interest when awarding the contract to BlackRock, the world's biggest investor.