SEC Says ESG Funds Must Invest ’80 Percent Rule’ in Fight Against Greenwashing
“On Wednesday, the U.S. Securities and Exchange Commission published new rules to prevent greenwashing in mutual fund names… The latest SEC amendments modernize the Investment Company Act ‘Names Rule’ to ensure that funds match their purpose. It is the latest of the SEC’s efforts to fight greenwashing in the sustainable investment industry.”
[COMMENTARY] This is a good step forward and is causing many fund managers to rename or delete funds.
SEC Says ESG Funds Must Invest ’80 Percent Rule’ in Fight Against Greenwashing, by Kaley Roshitsh, September 21, 2023, Yahoo Life, USA.