ASIC issues infringement notice to Melbourne Securities for greenwashing
COURT OR TRIBUNAL
Other
DATE FILED (OR FIRST HEARING DATE)
28/02/2024
LITIGATION TYPE
Corporate Accountability
SUBJECT MATTER
Misleading and deceptive conduct
REVIEW TYPE
N/A
SUMMARY
“Melbourne Securities Corporation Limited (Melbourne Securities) has paid $13,320 to comply with an infringement notice issued by ASIC in which ASIC alleged it made misleading statements regarding its Bloom Climate Impact Fund (Bloom Fund). From March 2022 to June 2023, Melbourne Securities, as trustee and responsible entity of the Bloom Fund, made statements in the Fund’s Product Disclosure Statement (PDS) that said the Fund would seek to avoid the investment of the Fund’s assets in a range of excluded activities, including in fossil fuels.”
CASE DOCUMENTS
ASIC issues infringement notice to Melbourne Securities for greenwashing
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