WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Tuesday charged Goldman Sachs Asset Management for failing to follow its policies and procedures involving ESG investments.
The charges were specifically over “policies and procedures failures involving two mutual funds and one separately managed account strategy marketed as Environmental, Social, and Governance (ESG) investments,” the SEC said in a statement.
Without admitting or denying the regulator’s findings, Goldman Sachs Asset Management agreed to pay a $4 million penalty, the SEC added.
(Reporting by Kanishka Singh in Washington; Editing by Chris Reese)
