In May, BNY Mellon became the first asset manager to settle with the US Securities and Exchange Commission over a claim it had allegedly misled investors over ESG information, paying a $1.5mn fine. The SEC is also investigating Goldman Sachs over ESG funds, according to the Wall Street Journal. Meanwhile, since last August US and German authorities have been investigating Deutsche Bank’s asset management division, DWS, for alleged greenwashing. DWS has been denying any wrongdoing; Goldman Sachs has been declining to comment.