Reported about 1 month ago
WisdomTree Asset Management has agreed to pay $4 million to the SEC for failing to adhere to its commitment of providing exchange-traded funds that excluded fossil fuels and tobacco investments. The funds, marketed from March 2020 to November 2022, included companies involved in coal mining and tobacco retail, violating their stated environmental, social, and governance (ESG) principles. While WisdomTree did not admit or deny the SEC's findings, they acknowledged deficiencies in their screening process. The affected funds were liquidated in February and averaged $119 million in assets during their existence.
Source: YAHOO