WisdomTree Asset Management Inc., a New York-based investment adviser, has agreed to pay $4 million to settle charges brought by the U.S. Securities and Exchange Commission (SEC). The SEC alleged that WisdomTree made misstatements and failed to comply with its own investment strategy, which was marketed as environmentally and socially responsible. The charges specifically focused on the company's failure to deliver on its promises regarding exchange-traded funds (ETFs) that were supposed to avoid investments in fossil fuels and tobacco, raising concerns over 'greenwashing' practices in the financial sector.