Jina Choi spoke to the Financial Times about the U.S. Securities and Exchange Commission (SEC) enforcement division sending document requests, including subpoenas, to several asset managers relating to their environmental, social, and government (ESG) investment marketing this year, suggesting a potential crackdown looming for the sustainable fund world.
"ESG remains a priority area for the SEC and I would expect to see some enforcement cases before the end of the agency's fiscal year in September," Jina said.
She added: "Registered investment advisers are already subject to examination and inspection, so their statements on green or socially conscious investing can be fertile ground for investigations and action by the SEC's enforcement division."
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