WisdomTree subsidiary receives SEC Wells Notice over ESG fund disclosures

WisdomTree, Inc.

SEC staff issued a Wells Notice to WisdomTree Asset Management alleging securities law violations related to three ESG-focused ETFs.
The three WisdomTree Trust ESG funds had average AUM of about $119M and were liquidated in February 2024 after board approval in December 2023.
WTAM maintains its actions were compliant with all laws and intends to respond through the Wells Notice process.
Potential remedies sought by SEC could include injunctions, disgorgement, pre-judgment interest, and civil money penalties.

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