Tr?id=566623520170033&ev=PageView&noscript=1

Deutsche Asset Management Unit Pays $25 Million to Settle "Greenwashing" and AML Violations

Posted on October 10th, 2023 at 1:58 PM
Deutsche Asset Management Unit Pays $25 Million to Settle

From the desk of Jim Eccleston at Eccleston Law 

Deutsche Bank AG's DWS asset management unit has agreed to a $25 million settlement with the Securities and Exchange Commission (SEC) over two separate issues.

DWS will pay $19 million for making "materially misleading statements" regarding its incorporation of environmental, social, and governance factors into research and investment recommendations. Secondly, DWS will pay an additional $6 million for failing to establish a proper anti-money laundering (AML) program for one of its mutual funds. DWS agreed to the settlement without admitting or denying the SEC's findings.

Various agencies, including the SEC, have scrutinized DWS since a former employee, Desiree Fixler, publicly disclosed allegations over two years ago. Fixler claimed that the asset manager had exaggerated its ESG credentials. Those allegations and subsequent investigations negatively affected the firm's share price as investors tried to gauge the financial implications.

According to AdvisorHub, this settlement represents the largest fine obtained by the SEC under the leadership of Chair Gary Gensler as part of their efforts to tighten regulations on how asset managers categorize ESG (Environmental, Social, and Governance) funds.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

Fantastic news!!!!  Your professionalism, support and expertise were greatly appreciated.  You made a difficult situation much more bearable.

Marci M.

LATEST NEWS AND ARTICLES

1773760408 Law
March 17, 2026
Bankruptcy Court Orders Emerson Equity to Produce Records in Inspired Healthcare Case

A federal bankruptcy court in Fort Worth has ordered Emerson Equity to produce documents connected to the sale of private securities issued by Inspired Healthcare Capital, according to InvestmentNews.

1773678753 Law
March 16, 2026
Concorde Investment Services Faces Scrutiny Over Sales of Inspired Healthcare Private Investments

Concorde Investment Services is facing increased scrutiny following the bankruptcy of Inspired Healthcare Capital, whose private investment offerings were widely sold through independent broker dealers, according to InvestmentNews.

1773412367 Law
March 13, 2026
Connecticut Advisor Pleads Guilty to Ponzi-Like Investment Fraud and Tax Evasion

Federal prosecutors announced that investment adviser John A.