WisdomTree settles SEC ESG enforcement action, pays $4M penalty

WisdomTree, Inc.

WTAM received Wells Notice on Aug 5, 2024, over three ESG-focused funds launched Mar 2020 and liquidated Feb 2024.
Funds had cumulative avg AUM of ~$119M; WTAM consented to cease-and-desist and $4M civil penalty without admitting or denying.
Penalty announced Oct 21, 2024; legal expenses covered by insurance except $1.0M deductible.
Settlement resolves alleged violations of Advisers Act Sections 206(2), 206(4), and Investment Company Act Section 34(b).

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