SEC fines BNY Mellon Investment Adviser $1.5m for greenwashing

ESG reviews not performed

Lauren Mason
clock • 1 min read
The firm agreed to a cease-and-desist order and a censure
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The firm agreed to a cease-and-desist order and a censure

BNY Mellon’s Investment Adviser arm has agreed to pay the US Securities and Exchange Commission $1.5m in penalties following “misstatements and omissions” about its ESG approach to managing funds.

According to a statement issued by the SEC, BNY Mellon Investment Adviser suggested it had embedded ESG quality reviews into all of its funds, which the federal agency found was "not always the cas...

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