DWS Fined €25 Million in Germany for Greenwashing Allegations

The Deutsche Bank subsidiary has concluded its legal battle with Frankfurt prosecutors, acknowledging past marketing missteps and committing to compliance reforms.

• The Frankfurt prosecutor's office imposed a €25 million fine on DWS for misleading claims about the sustainability of its financial products.
• DWS has admitted to overly enthusiastic marketing in the past and stated it has improved internal documentation and control processes.
• Investigations revealed that DWS's claims of being a market leader in ESG investments were inaccurate, with offices searched multiple times for evidence.
• This fine follows a $25 million penalty by the U.S. SEC in 2023 for false ESG claims and violations of anti-money laundering rules.
• DWS replaced its CEO in 2022 and has since focused on rebuilding trust and aligning with rising regulatory demands for ESG transparency.

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