September 25, 2023

Investment adviser DWS Investment Management Americas Inc. (DIMA), a subsidiary of Deutsche Bank AG, has agreed to pay $25 million to settle two separate enforcement actions.  In the first action, DIMA was found to have failed to develop and implement an anti-money laundering (AML) program to comply with the Bank Secrecy Act and Financial Crimes Enforcement Network regulations.  In the second action, DIMA was found to have made materially misleading statements about how it managed its Environmental, Social, and Governance (ESG) products while marketing itself as a leader in the field.  SEC

Tagged in: Financial Institution Fraud, Misrepresentations,