- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-12-12T20:25:00
Consumer goods company Unilever will be scrutinized by the U.K. Competition and Markets Authority (CMA) regarding its marketing of certain products as environmentally friendly.
The CMA announced Tuesday it would investigate Unilever in line with its Green Claims Code published in 2021. The regulator said it is “concerned that Unilever may be overstating how green certain products are through the use of vague and broad claims, unclear statements around recyclability, and ‘natural’ looking images and logos.”
The investigation is the first the CMA has announced into a company since expanding its green claims scrutiny regarding the so-called fast-moving consumer goods space earlier this year.
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Athletic apparel company Lululemon is under investigation by the Canadian Competition Bureau regarding whether it made misleading claims about environmental aspects of its business.
The U.K. Financial Conduct Authority issued new guidance on how to comply with its upcoming anti-greenwashing rule, which is set to take effect May 31.
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USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
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The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
