SEC hits major asset manager with $4 million fine over misleading investment strategy — here’s what happened
The U.S. Securities and Exchange Commission recently issued financial services firm WisdomTree a $4 million fine for greenwashing. Per an ESG Dive report, the firm was penalized for falsely representing its execution of three of its funds’ ESG — or environmental, social, and governance — investment strategies.
What’s happening?
The U.S. Securities and Exchange Commission recently fined WisdomTree Asset Management $4 million for greenwashing, finding the company failed to comply with an ESG investment strategy the financial services firm advertised.
According to the cease-and-desist filing, the New York-based firm made misstatements about the investment strategy of three exchange-traded funds — the WisdomTree…
