BlackRock Inc., the world’s largest money manager, put on hold stewardship conversations with portfolio companies, following new guidance from the US Securities and Exchange Commission, according to a company spokesperson.

Simply sign up to the ESG investing myFT Digest -- delivered directly to your inbox. BlackRock has cancelled meetings with companies in the middle of shareholder battles because it fears that it could violate guidance on investor activism that the US Securities and Exchange Commission issued last week.