Credit: REUTERS/RALPH ORLOWSKIShares 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;))
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