US SEC poised to ban deceptive ESG, growth labels used by funds

US SEC poised to ban deceptive ESG, growth labels used by funds

FILE PHOTO: The seal of the U.S. Securities and Exchange Commission hangs on the wall at SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst/File Photo

Wall Street’s top regulator on Wednesday is set to approve rule changes aimed at banning the deceptive labelling of funds that appear to target “growth” or “value” assets or environmentally and socially conscious investments.

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