SEC Fines BNY Mellon Unit Over ESG Claims -- Update
23 Maio 2022 - 11:51AM
Dow Jones News
By Dean Seal
The investment management wing of Bank of New York Mellon Corp.
will pay the U.S. Securities and Exchange Commission $1.5 million
to resolve claims of misstatements and omissions about
environmental, social and governance considerations in its
investment decision-making for certain mutual funds that it
manages.
BNY Mellon Investment Adviser Inc. neither admits nor denies
allegations that between July 2018 and September 2021 it said that
all investments in its funds had gone through an ESG quality
review, despite the fact that numerous investments by some of those
funds didn't have a review score at the time of investment, the SEC
said.
The SEC filed a settled action on Monday that calls for the BNY
Mellon unit to pay a $1.5 million penalty. The regulator has been
taking a harder look at ESG investment disclosures ever since the
launch of its enforcement division's Climate and ESG Task Force in
March 2021.
BNY Mellon Investment Adviser in a statement said it was
"pleased to resolve the matter concerning certain statements it
made about the ESG review process for six U.S. mutual funds."
"While none of these funds were part of the BNYMIA 'Sustainable'
fund range, we take our regulatory and compliance responsibilities
seriously and have updated our materials as part of our commitment
to ensuring our communications to investors are precise and
complete," the statement said.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 23, 2022 10:36 ET (14:36 GMT)
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