From sladen.com.au: Vanguard Investments Australia Ltd was ordered by the Federal Court of Australia to pay a penalty of $12.9 million for making misleading claims about its Ethically Conscious Global Aggregate Bond Index Fund, specifically regarding its Environmental, Social and Governance (ESG) screening practices.

ASIC found that Vanguard’s representations about the Fund’s adherence to ESG criteria were false, as not all securities were properly screened, and the research applied had significant limitations.