(Reuters) - DWS, the German fund manager controlled by Deutsche Bank (ETR:DBKGn), said on Wednesday it was engaged in advanced resolution discussions with the US SEC to resolve their ESG investigation, which has been hanging over the company for two years.
The firm booked 21 million euros ($23.22 million) in provisions regarding regulatory matters during the first half of the year.
Since 2021, regulators on both sides of the Atlantic have investigated accusations sparked by a whistleblower that DWS may have misled investors by marketing its funds as greener than they actually were.
Reuters reported this week that the U.S. Securities and Exchange Commission is preparing to resolve a two-year probe into the allegations of greenwashing, with a likely financial settlement by the end of September that was not expected to be significant.