Deutsche Bank’s DWS Group under scrutiny for ESG claims
Authorities searched the Frankfurt offices of Deutsche Bank and its asset-management division DWS earlier this week. According to reports in the Wall Street Journal, investigators are seeking evidence of “greenwashing” in a mutual fund that claims to prioritize ESG (Environmental and Social Governance) factors in its investments.
Concerns about possible overstating of ESG commitments gained traction last fall when the Head of Sustainability acknowledged the firm’s difficulty in succeeding with its ESG strategies for investing.
The Journal reports that German authorities involved in the search of the offices are looking for evidence of investment fraud. The U.S. Securities and Exchange Commission and U.S. federal prosecutors are involved in investigations, as well, related to claims around ESG investments.
ESG ratings and factors are one of the hottest areas in investing and in Goverance, Risk, and Compliance, and investment firms are offering funds claiming high ESG ratings in order to entice investors. The claims and the money they are drawing have also drawn much more scrutiny from regulatory authorities around the world. Analysts expect both the appeal and scrutiny to continue as ESG efforts and claims gain further energy.
RegTechONE platform—No-Code Configurability Puts You in Control of AML/KYC, GRC, and ESG
AML Partners’ RegTechONE platform for GRC will blow you away—and its No-Code Configurability means that users create their own workflows—no custom coding. AML Partners designs GRC and AML software solutions that transform the work of Governance, Risk, and Compliance. With AML Partners’ platform technology for RegTech, AML and GRC software solutions are easier, faster, and so much more efficient. Contact us today to learn how platform technology and our comprehensive range of related AML tools can transform the efficiency and effectiveness of your unique GRC and AML Compliance efforts. Contact us today to learn more or schedule a Proof-of-Concept experience with the RegTechONE platform. With extraordinary configurability and built for API extensibility, the RegTechONE platform powers a range of AML/KYC tools but also CECL workflows, vendor management, cyber risk workflows, FCPA workflows, and so much more. RegTechONE: For your institution’s Network of Applications and Ecosystem of Permissioned Data.