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US authorities investigating Deutsche Financial institution’s DWS Group over sustainable investing claims: WSJ

Deutsche Financial institution’s asset administration arm, DWS Group, is being investigated by U.S. authorities over claims it made about its sustainable investing practices, the Wall Avenue Journal reported Wednesday. 

In accordance with the WSJ’s report, federal prosecutors and the Securities and Alternate Fee are probing DWS after the corporate’s former head of sustainability stated the agency had exaggerated its use of sustainable investing standards to handle property. CNBC was unable to independently confirm the report.

A spokesperson for DWS advised CNBC by way of electronic mail that the corporate doesn’t touch upon regulatory issues.

The WSJ reported that DWS had misled buyers over its sustainability efforts after having difficulties with its environmental, social and governance investing technique.

The SEC was not instantly accessible for remark when contacted by CNBC.

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