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[Bloomberg](https://www.bloomberg.com) and [SEC]
Deutsche Bank's asset management arm, DWS, has been fined 25 million euros for misleading advertising related to sustainable products, marking one of the largest penalties for "greenwashing" in Europe. The fine follows allegations from a former executive and extensive investigations revealing that DWS's claims about its ESG commitments were exaggerated. Activists have hailed the penalty as a significant warning to the financial industry about consumer deception and fraud.
Deutsche Bank's asset management arm, DWS, has been fined 25 million euros for misleading advertising related to sustainable financial products, marking one of the largest penalties for "greenwashing" in Europe. The fine follows allegations from a former executive and extensive investigations revealing that DWS's claims about its ESG commitments were exaggerated. Despite accepting the penalty, DWS acknowledged past marketing excesses and stated that improvements have been made, while critics argue the firm has reduced its sustainable finance efforts.
Deutsche Bank-owned asset manager DWS has been fined €25 million ($27 million) for "greenwashing" after misleading investors about its environmental and social governance (ESG) credentials from mid-2020 to January 2023. The firm acknowledged its marketing was overly optimistic and has since improved its internal processes. This penalty follows a $25 million settlement in the U.S. related to similar misstatements and money laundering policy failures.
Deutsche Bank’s DWS has agreed to pay €25 million to settle a German investigation into alleged greenwashing, mirroring a similar US settlement of $19 million with the SEC. Prosecutors found that DWS misrepresented its sustainable finance practices, leading to misleading market perceptions. The firm has acknowledged past marketing excesses and has committed to improving its internal processes.
Asoka Woehrmann
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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