DWS fined $19m by SEC over 'materially misleading' ESG statements

Valeria Martinez
clock • 2 min read

Deutsche Bank's asset management arm DWS has agreed to pay $25m in penalties to settle two charges by the Securities and Exchange Commission into alleged ESG "misstatements" and anti-money laundering violations. The US financial watchdog said today (25 September) that DWS Investment Management Americas would pay $19m for "materially misleading statements" about its controls for incorporating ESG factors into research and investment recommendations.  The firm will also pay $6bn for failing to develop an anti-money laundering (AML) programme for its US mutual fund business tailored to t...

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