SEC Probing Financial Giant DWS
In a developing story, German asset manager DWS is currently under investigation by the U.S. Securities and Exchange Commission (SEC) and the federal prosecutor's office for potential misrepresentation of its sustainable asset management.
The investigation was initiated following reports on August 1 that DWS was facing issues with its Environmental, Social, and Corporate Governance (ESG) strategy. The problems with DWS's ESG strategy refer to the use of criteria for environmental, social, and corporate governance in management.
The allegations against DWS involve misrepresenting its ESG strategy, also known as "greenwashing" or "greenwashing". This practice involves presenting a company's products or policies as environmentally friendly, when in reality they are not.
The newspaper's report was based on documents and the former sustainability chief, Desiree Fixler, who worked at DWS from August 2020 until her dismissal in April 2021. However, the search results do not provide the name of the person who held the position of Group Sustainability Officer at DWS between August 2020 and April 2021.
As of August 26, 2021, 2:30 PM, the DWS share has fallen significantly and is trading at around 36.50 euros, a decrease of 12.5 percent from its closing price on August 25. On August 25, the DWS share closed at 41.72 euros.
It is important to note that the authorities involved in the investigation have not yet commented on the matter. As this story continues to unfold, more information will be made available.
This investigation underscores the importance of transparency and integrity in the financial industry, particularly in the rapidly growing field of sustainable investing. The public and investors rely on accurate information to make informed decisions, and misrepresentation of a company's ESG strategy can have significant consequences.
Stay tuned for updates on this developing story.
