Deutsche Bank-controlled investment firm DWS will pay $25 million to settle charges over misstatements regarding its ESG investing.
DWS Investment Management Americas, a registered investment adviser, made "concerning" misstatements regarding its ESG investment process, the U.S. Securities and Exchange Commission said in a statement.
The headquarters of Deutsche Bank AG in Frankfurt, Germany, on Tuesday, May 31, 2022. Deutsche Bank and its asset management unit had their Frankfurt offices raided by police, adding to legal headaches facing Germany's largest lender.
The firm billed itself as a leader in ESG investing, but from August 2018 until late 2021, failed to implement its related policies as it promised investors, the SEC said.
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