Fund giant Vanguard fined for ‘greenwashing’ in Australia

A local arm of global fund behemoth Vanguard was fined on September 25 for “greenwashing” in Australia, following a court ruling that found it had misrepresented so-called “ethical” investments. Australia’s securities watchdog said the US$8.9 million penalty was the “highest yet for greenwashing conduct” in the country. Vanguard Investments Australia claimed that stocks and bonds...