The Australian Securities and Investments Commission said on Tuesday it had launched proceedings against Vanguard in the Federal Court. One of the world’s biggest investment managers, Vanguard has $11 trillion in assets under management globally.
Vanguard said on Tuesday it had identified and self-reported a breach in relation to disclosures for its Vanguard Ethically Conscious Global Aggregate Bond Index Fund and ETF in 2021. As of February 26, 2021, the total funds or assets under management of the fund was over $1 billion.
ASIC deputy chair Sarah Court said that consumers and investors were increasingly looking for ethically conscious investment products, and that consumers have to be able to rely on what they are told about how their funds are invested.She said the topic of greenwashing was an enforcement priority for ASIC. “We have a number of matters currently under investigation.”
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Source: FinancialReview - 🏆 2. / 90 Read more »