Deutsche Bank Misled On Esg

The Wall Street Journal reported that Deutsche Bank’s ($DB@Germany) asset management arm, DWS Group ($DWS@Germany), is being investigated by U.S. authorities over claims it made about its sustainable investing practices. Federal prosecutors and the Securities and Exchange Commission are conducting a probe of DWS after the company’s former head of sustainability said the firm had exaggerated its use of sustainable investing criteria to manage assets. The WSJ reported that DWS had misled investors over its sustainability efforts after having difficulties with its environmental, social, and governance investing strategy.