Here is a summary of BlackRock's Code of Business Conduct and Ethics, which "sets out basic principles to guide employee conduct. The code is supported by employee conduct policies and programs and reinforced through employee training. We have zero tolerance in relation to illegal or unethical conduct. Any employee who violates the requirements of the Code of Business Conduct and Ethics, or many of our other policies, is subject to disciplinary action. Every employee is required to report any illegal or unethical conduct about which they become aware. Employees have the right to report directly to a regulator and may do so anonymously, without fear of retaliation."

"I became friends with a teammate over the years. We were close. However, one day they called out sick and asked if I would take over a project for them, and I did. But when I logged onto their computer and looked for the folder where the files for this project were stored, I inadvertently stumbled on some communication that revealed he'd been doing some insider trading and had taken bribes. It was unfortunate to be put into such a position, but I had to report it promptly. There was also no way to conceal that I had been the one who had reported him, as it was self-obvious. So there was no anonymous tip or anything like that. I lost a friend that day. It was a pity."