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SEC charges Goldman Sachs Asset Management with not following ESG investments policies
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The U.S. Securities and Exchange Commission on Tuesday charged Goldman Sachs Asset Management with failing to follow its policies and procedures involving environmental, socially oriented and other investments, and fined the company $4 million.
The charges were specifically over "policies and procedures failures involving two mutual funds and one separately managed account strategy marketed as Environmental, Social, and Governance (ESG) investments," the regulatory agency said in a statement.
Without admitting or denying the regulator's findings, Goldman Sachs Asset Management agreed to pay the $4 million penalty, the SEC added.