© Reuters. FILE PHOTO: The logo of Deutsche Bank’s asset management unit DWS is pictured at the Frankfurt Stock Exchange, Germany March 23, 2018. REUTERS/Kai Pfaffenbach
FRANKFURT (Reuters) -The U.S. Securities and Exchange commission is investigating Deutsche Bank (DE:)’s asset management arm DWS over how it used sustainable investing criteria to manage its assets, a person with knowledge of the matter said on Thursday.
The news, first reported by The Wall Street Journal, sent DWS shares down 11.3%.
DWS and Deutsche Bank declined to comment.
A spokesperson for the U.S. Department of Justice declined to comment on the WSJ report, while an SEC spokesperson said: “The SEC does not comment on the existence or nonexistence of a possible investigation.”
The WSJ, citing unnamed sources, also reported that federal prosecutors in Brooklyn, New York, were looking into the matter as well.
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