U.S. SEC charges BNY Mellon Investment Adviser for misstatements over ESG policies By Reuters

© Reuters. FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Monday said BNY Mellon (NYSE:) Investment Adviser had paid $1.5 million to resolve charges it misstated environmental, social and governance (ESG)investment policies for some mutual funds that it managed.

The SEC said that from July 2018 to September 2021, BNY Mellon Investment Adviser represented or implied in various statements that all investments in the funds had undergone an ESG quality review, even though that was not always the case.