U.S. SEC investigates Deutsche Bank’s DWS over sustainability claims


The U.S. Securities and Exchange commission is investigating Deutsche Bank’s asset management arm DWS 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%.

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.