U.S. SEC Investigating Goldman Sachs over ESG Funds
The U.S. Securities and Exchange Commission is looking into Goldman Sachs Group Inc's asset-management division over its funds that look to invest based on ESG standards.
The investigation is focused on Goldman Sachs' mutual-funds division, the report said on Friday, citing people familiar with the matter. The firm manages at least four funds that have clean-energy or ESG in their names.
The SEC earlier this year proposed a pair of rule changes aimed at stamping out unfounded claims by funds on their ESG credentials, and enforcing more standardization of such disclosures.