- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2024-11-11T15:42:00
Invesco Advisors agreed to pay $17.5 million to the Securities and Exchange Commission (SEC) to settle allegations that the company misled investors about the extent of its assets that included environmental, social, and governance (ESG) factors.
The SEC also faulted Invesco for lacking any written policy defining ESG integration, which the agency warned firms about in April. The settlement is an example of heightened scrutiny the SEC has placed on firms that fail to comply with its updated marketing rule.
In 2019, an internal Invesco report found that at least $370 billion of assets under management at the company were at risk of being abandoned by clients who would move to other firms, because they wanted ESG-based investments, according to the order.
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2024-10-22T16:08:00Z By Aaron Nicodemus
Fund management company WisdomTree will pay $4 million to settle allegations by the Securities and Exchange Commission that it improperly invested in fossil fuel and tobacco companies in environmental, social and governance (ESG) funds despite promising to avoid them.
2024-04-18T21:01:00Z By Aaron Nicodemus
Examiners with the Securities and Exchange Commission found investment advisory firms have generally done well creating processes to comply with the agency’s amended marketing rule but some have fallen short in ensuring compliance.
2024-04-09T18:24:00Z By Aaron Nicodemus
Environmental, social, and governance goals have gained acceptance from senior leadership because of upward pressure from employees, investors, and customers, according to compliance leaders speaking at Compliance Week’s 2024 National Conference.
2025-03-27T13:11:00Z By Jeff Dale
The U.K. Financial Reporting Council issued penalties against PwC and a former auditor over deficiencies on work related to the 2019 financial statements of now shuttered Wyelands Bank.
2025-03-27T12:49:00Z By Aaron Nicodemus
Yet another government contractor has been slapped with a fine by the Department of Justice for applying lax cybersecurity defenses on sensitive government data.
2025-03-26T18:48:00Z By Oscar Gonzalez
The European Commission released its preliminary findings last week regarding Apple and Google not complying with the Digital Markets Act. It issued orders to both companies regarding their business practice and plans to release all of its findings next week.
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