Goldman Sachs fined $4m over ESG fund claims

Mark Battersby
clock • 2 min read

The US Securities and Exchange Commission has charged Goldman Sachs Asset Management (GSAM) for policies and procedures failures related to ESG investments. The asset management firm agreed to pay a $4m penalty to settle the SEC complaint that involved two mutual funds and one separately managed account strategy that were marketed as Environmental, Social, and Governance (ESG) investments. The SEC said that from 2017 to 2020 the company had failed to have any written policies and procedures for ESG research in one product, and once policies and procedures were established, it failed t...

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