United States SEC Fines Invesco Advisors $17.5 Million for Misleading Statements on AUM Integrating ESG Factors, Told Clients & Stated in Marketing Materials from 2020 to 2022 Between 70% to 94% of Parent Company Assets were ESG Integrated, Invesco Has No Written Policy on ESG Integration & Substantial Assets Held in Passive ETFs Did Not Consider ESG Factors
12th November 2024 | Hong Kong
The United States Securities & Exchange Commission (SEC) has fined Invesco Advisors $17.5 million for misleading statements on AUM (Assets under Management) integrating ESG factors (Environment, Social & Governance), telling clients & stating in marketing materials from 2020 to 2022 between 70% to 94% of parent company assets were ESG integrated. Invesco has no written policy on ESG integration & substantial assets held in passive ETFs (Exchange-Traded Funds) did not consider ESG factors. United States SEC (8/11/24): “The Securities and Exchange Commission today charged Invesco Advisers, Inc. for making misleading statements about the percentage of company-wide assets under management that integrated environmental, social, and governance (ESG) factors in investment decisions. The Atlanta-based registered investment adviser agreed to pay a $17.5 million civil penalty to settle the SEC’s charges. According to the SEC’s order, from 2020 to 2022, Invesco told clients and stated in marketing materials that between 70 and 94 percent of its parent company’s assets under management were “ESG integrated.” However, in reality, these percentages included a substantial amount of assets that were held in passive ETFs that did not consider ESG factors in investment decisions. Furthermore, the SEC’s order found that Invesco lacked any written policy defining ESG integration. The order charges Invesco with willfully violating the Investment Advisers Act of 1940. Without admitting or denying the order’s findings, Invesco agreed to cease and desist from violations of the charged provisions, be censured, and pay the aforementioned $17.5 million civil penalty.”
” United States SEC Fines Invesco Advisors $17.5 Million for Misleading Statements on AUM Integrating ESG Factors, Told Clients & Stated in Marketing Materials from 2020 to 2022 Between 70% to 94% of Parent Company Assets were ESG Integrated, Invesco Has No Written Policy on ESG Integration & Substantial Assets Held in Passive ETFs Did Not Consider ESG Factors “
Sanjay Wadhwa, Acting Director of the SEC’s Division of Enforcement: “As stated in the order, Invesco saw commercial value in claiming that a high percentage of company-wide assets were ESG integrated. But saying it doesn’t make it so. Companies should be straightforward with their clients and investors rather than seeking to capitalize on investing trends and buzzwords.”
United States SEC Fines Invesco Advisors $17.5 Million for Misleading Statements on AUM Integrating ESG Factors, Told Clients & Stated in Marketing Materials from 2020 to 2022 Between 70% to 94% of Parent Company Assets were ESG Integrated, Invesco Has No Written Policy on ESG Integration & Substantial Assets Held in Passive ETFs Did Not Consider ESG Factors
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- July 2024 - Hong Kong
- July 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Oct 2024 - Hong Kong
- Nov 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
