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SEC accuses Goldman Sachs Asset Management of not following ESG investment policies By Reuters

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© Reuters. FILE PHOTO: The Goldman Sachs logo is seen on the trading floor of the New York Stock Exchange (NYSE) in New York City, New York, US, November 17, 2021. REUTERS/Andrew Kelly/File Photo

By Kanishka Singh

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Tuesday charged Goldman Sachs (NYSE:: Asset Management) with failing to follow its policies and procedures for environmental, social and other investments, and fined the company $4 million.

The regulatory agency said in a statement that the charges relate specifically to “failures of policies and procedures relating to two mutual funds and a separately managed account strategy marketed as environmental, social and governance (ESG) investments.”

Without acknowledging or denying the regulator’s findings, the SEC added, Goldman Sachs Asset Management agreed to pay a $4 million fine.

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Global investors have poured money into ESG-focused funds in recent years as they pay greater attention to issues such as climate change or workforce diversity, although the funds have faced net withdrawals of investor funds so far this year.

US and European regulators are just beginning to formalize rules for ESG claims and disclosures.

“Goldman Sachs Asset Management, LP is pleased to resolve this matter, which addressed historical policies and procedures relating to three of the Goldman Sachs Asset Management Fundamental Equity Group’s investment portfolios,” the company said in a separate statement.

The SEC found that from April 2017 through February 2020, the company experienced numerous policy and procedure failures involving the ESG research used by its investment teams to select and monitor securities.

“From April 2017 through June 2018, the company failed to obtain any written policies and procedures for ESG research into a single product, and once the policies and procedures were in place, it failed to follow them consistently prior to February 2020,” the SEC said.

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Twitter users are running Musk Over Kanye West

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Even Elon Musk has his limits.

Musk, Tesla (TSLA) – Get a free report The CEO, Twitter’s latest owner and self-described free-spirited free-lancer, has confirmed the microblogging site to be “an actual town square” ever since he walked through the front door with sink in hand.

“It’s mad!” The richest man in the world chirp On November 25 “I’m just fighting for free speech in America.”

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In his quest, Musk recently Welcome back Donald Trump, ending a 22-month ban on the former Republican president.



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Renault and Nissan drop December 7 announcement of new deal – JNN via Reuters

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© Reuters. FILE PHOTO: The logos of auto manufacturers Nissan and Renault are pictured at the Kyiv dealership in Ukraine on June 25, 2020. REUTERS/Valentin Ogiryenko/File Photo

TOKYO (Reuters) – Automakers Renault Japanese television network JNN reported Friday that Nissan (EPA:) and Nissan (OTC:) will drop a December 7 announcement of a new deal for their restructured alliance as they struggle to bridge their differences.

Both sides are engaged in discussions to restructure their alliance. Renault is looking to Nissan to invest in its electric vehicle business, while Nissan is seeking to sell part of Renault’s 43% stake in Nissan to put the two partners on an equal footing.

JNN said the two parties decided to forgo the Dec. 7 announcement because they had not reached an agreement as of Friday on how to share the intellectual property.

She added that there are no new plans for when to make an announcement. It is not clear from the report whether JNN cites a single source or multiple sources.

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Neither Renault nor Nissan immediately responded to a request for comment.

Reuters reported earlier that both parties had set December 7 as a possible date for announcing the new alliance structure.

The question of how technology and intellectual property will be shared has proven to be a sticking point in the talks.

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Stocks that might benefit from a Bong win on the bottle

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Seminal cultural questions over the years included paper or plastic? Cash, check or credit card? Boxers or briefs?

Now that recreational marijuana use is increasingly legal, the question for those who want to indulge in relaxers is pot or booze?

Cannabis appears to be the winner market share from alcohol. A total of 50% of American consumers live in a state that has passed legalization measures, according to Coin analysts. Total cannabis sales now account for 10% of alcohol sales, up from 2% in 2017.

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Analysts wrote in a commentary that legal cannabis sales have grown at an average of 46% annually over the past five years, while alcohol sales have increased at an average of 5%.



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