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Fiducian Ordered to Pay $7.3 Million Penalty Over Misleading ESG Fund Claims
Following ASIC proceedings, the Supreme Court of New South Wales ordered Fiducian Investment Management Services to pay a $7.3 million penalty over its Diversified Social Aspirations Fund. Fiducian admitted making misleading statements about the fund's ethical objectives and investment monitoring, while the fund held companies earning revenue from fossil fuels.
Australian Securities and Investments Commission
Date Added
17 October 2026 at 19:54:14
Why it matters
Another ASIC greenwashing win: fund managers must have the monitoring and governance to back up ethical or ESG screening claims, and must correct statements once concerns are raised.
Cite this case: EcoAppraise (2026) 'Fiducian Ordered to Pay $7.3 Million Penalty Over Misleading ESG Fund Claims', Global Enforcement & Advisory Registry. Available at: https://www.ecoappraise.com/cases/fiducian-ordered-to-pay-7.3-million-penalty-over-misleading-esg-fund-claims (Accessed: 19 October 2026). Original source: Australian Securities and Investments Commission, 17 October 2026.
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