ESG funds being probed by SEC over ceding votes on social issues
The agency is asking companies offering ESG funds whether they lend out shares, which could impact their ability to cast ballots in corporate elections.
U.S. regulators are expanding their crackdown on misleading labels of investment products with a probe focused on whether managers of funds that are marketed as sustainable are trading away their right to vote on environmental, social and governance issues.
For the past several months, Securities
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