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WisdomTree next sector divestment for ESG by end of 2025?
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WisdomTree Agrees to Pay $4 Million to Settle SEC Greenwashing Charges Over ESG Failures
Oct 21, 2024, 08:44 PM
WisdomTree, a New York-based investment adviser, has agreed to a cease-and-desist order and censure, and will pay a $4 million civil penalty to settle charges from the U.S. Securities and Exchange Commission (SEC). The SEC accused WisdomTree of failing to adhere to its own investment criteria for funds marketed as adhering to environmental, social, and governance (ESG) principles. Specifically, the firm was found to have invested in fossil fuels and tobacco, contrary to its stated ESG strategy. The settlement addresses misstatements and compliance failures related to WisdomTree's ESG claims. The SEC described the charges as related to 'greenwashing.'
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