SEC charges ESG RIA WisdomTree over inadvertent tobacco, fossil fuel investments

The charges arise from prospectuses stating that the company would exclude ESG-negative industries from its investments.

WisdomTree, a New York-based asset manager and exchange-traded-fund (ETF) provider, has agreed to pay $4m over ETF prospectuses stating it would exclude companies involved in the tobacco or fossil fuels industries.

These promises were backed up by the RIA’s affirmations that it was developing a “model-based approach” that would be

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