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OSC accuses investment fund Purpose and its founder of greenwashing

A Canadian flag flies in the financial district between the towers of the Toronto-Dominion Center and the Bank of Nova Scotia tower in Toronto, Canada.
Photo: Gary Hershorn/Getty Images

Thomas Hyrkiel

1 min read
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According to the regulator the investment fund manager did not consider ESG in making investment decisions for many of the funds it managed.

At the heart of the OSC application for enforcement proceeding, which names both Purpose and its founder Som Seif (Seif), are allegations that both firm and founder made false and misleading statements claiming that:

  • ESG factors were considered when making investment decisions for most or all of the investments funds
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