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ECB looking into governance issues of Deutsche Bank fund unit

by Mike Robinson

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© Reuters. FILE PHOTO : This is a photograph of a euro sculpture in front the European Central Bank’s Frankfurt headquarters, 15 January 2009. REUTERS/Kai Pfaffenbach

Frank Siebelt, Tom Sims

FRANKFURT, (Reuters) – The European Central Bank examines corporate governance concerns surrounding the chief executive of its bank. Deutsche Bank (DE:). A person who has knowledge of the subject said Friday that DWS was part of DWS’s fund unit.

The ECB is investigating DWS governance practices. This follows separate investigations by both the U.S. Securities and Exchange Commission and Germany’s financial regulator BaFin. They are looking into claims that DWS misrepresented how it uses sustainable investing criteria in managing investments. DWS denied these claims.

DWS and Deutsche Bank declined to respond to the ECB inquiry.

($1 = 0.8986 euros)

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