DWS: Statement following U.S. Securities and Exchange Commission Settlements


  • We are pleased to have resolved these matters that relate to certain historic processes, procedures and marketing practices the firm has since addressed.
  • The SEC ESG Order, following an extensive two-year examination, finds no misstatements in relation to our financial disclosures or in the prospectuses of our funds. We have consistently stated that we stand by our financial disclosures and disclosures in our fund prospectuses.
  • The Order also makes clear that there was no intent to defraud, and the weaknesses identified by the SEC are in relation to processes and procedures that the firm has already taken steps to address. The Order also does not find that DWS Investment Management Americas (DIMA) staff were not integrating ESG factors into the investment process. Instead, the Order focuses on the fact that DIMA lacked processes and procedures to evidence that such integration was documented in a consistent manner.
  • We are pleased that the SEC recognized our cooperation in the investigation and our remediation efforts.
  • We have learned many lessons from the ever-evolving regulatory environment and are fully committed to continuing to improve. We are grateful to our clients for their continued trust in our products.
  • With respect to the settlement resolving the SEC’s examination into our historic AML policies and procedures, we are committed to maintaining a robust risk management framework, and since 2020, have taken steps to enhance our AML processes for our U.S. mutual fund business. We are glad that the SEC has also acknowledged our cooperation in connection with the investigation in this case, and our remediation efforts in respect of the findings.



About DWS Group


DWS Group (DWS) with EUR 859bn of assets under management (as of 30 June 2023) aspires to be one of the world's leading asset managers. Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

We offer individuals and institutions access to our strong investment capabilities across all major liquid and illiquid asset classes as well as solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, giving strategic guidance to our investment approach. 

DWS wants to innovate and shape the future of investing. We understand that, both as a corporate as well as a trusted advisor to our clients, we have a crucial role in helping to navigate the transition to a more sustainable future. With approximately 4,400 employees in offices all over the world, we are local while being one global team. We are committed to acting on behalf of our clients and investing with their best interests at heart so that they can reach their financial goals, no matter what the future holds. With our entrepreneurial, collaborative spirit, we work every day to deliver outstanding investment results, in both good and challenging times to build the best foundation for our clients’ financial future.


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