U.S. SEC investigating Deutsche Bank's DWS over sustainability claims - source


Shares down 11%

First reported by WSJ

Updates with independent confirmation of investigation, shares, background

FRANKFURT, Aug 26 (Reuters) - The U.S. Securities and Exchange commission is investigating Deutsche Bank's DBKGn.DE asset management arm DWS DWSG.DE over how it used sustainable investing criteria to manage its assets, a person with knowledge of the matter said on Thursday.

The news, first reported by The Wall Street Journal, sent DWS shares down 11.3%.

DWS and Deutsche Bank declined to comment.

A spokesperson for the U.S. Department of Justice declined to comment on the WSJ report, while an SEC spokesperson said: "The SEC does not comment on the existence or nonexistence of a possible investigation."

The WSJ, citing unnamed sources, also reported that federal prosecutors in Brooklyn, New York, were looking into the matter as well.

(Reporting by Tom Sims and Patricia Uhlig Editing by Riham Alkousaa, Kirsti Knolle)

((Tom.Sims@thomsonreuters.com; +49 30 220 133 645;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.