December 2, 2022

Goldman Sachs to pay $4mn penalty over ESG fund claims

Goldman Sachs to pay 4mn penalty over ESG fund claims

Goldman Sachs to pay 4mn penalty over ESG fund claims

Goldman Sachs has agreed to pay a $4mn penalty over US regulatory fees that the financial institution’s asset administration division misled clients about environmental, social and governance (ESG) investments.

The settlement with the Securities and Trade Fee highlights a widening clampdown on probably unsupported claims made by monetary teams relating to socially-conscious funding merchandise.

The SEC’s settlement concerned two mutual funds and one individually managed account…

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