Why US officials are increasing surveillance of Deutsche Bank

Why US officials are increasing surveillance of Deutsche Bank

DHe is with US officials Deutsche Bank Screened because of “greenwashing” allegations against the fund’s subsidiary DWS. As can be seen from Deutsche Bank’s annual report published on Friday, the US Justice Department complains that the bank notified it too late of the allegations. The Institute thus breached the reporting obligations from the earlier agreement. Now in late February it was agreed with the US Department of Justice that existing surveillance by an independent controller should be extended until February 2023. Deutsche Bank, DWS and the US Department of Justice declined to comment.

The fund’s subsidiary, DWS, made headlines in 2021 with an allegation of “greenwashing”. Its background was an allegation by the former head of the sustainability division that the asset manager was too lax with the norms of sustainable investment. According to insiders, US officials joined in. DWS has always denied allegations of “greenwashing” by its former employee.

Subject to fraudulent labeling in ESG investments it g Environmental protection, standing for social standards and good corporate governance – was recently at the top of the agenda of consumer protection groups. You have been demanding clear standards and guidelines for a long time. The European Union Commission recently launched its long-planned equine rating for “green” investments. However, this classification was not without criticism, as nuclear power and natural gas may receive an eco-label, at least under certain criteria.

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