DWS rocked by $1trillion SEC greenwashing probe - reports

Deutsche Bank AG's asset-management arm, DWS Group, are under investigation by US Securities and Exchange Commission and federal prosecutors for allegedly overstating its ESG credentials across its $1tn fund range, according to reports. The landmark probe - which will be be heavily scrutinised by the global fund management industry - comes after the DWS's former head of sustainability acted a whistle-blower in an interview with The Wall Street Journal, saying that the company had overstated how much it used sustainable investing criteria to manage its assets. Assets in ESG funds have ...