COHEN & STEERS INC
CNS
Financials
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Cohen & Steers was charged in the SEC's industry-wide enforcement sweep targeting off-channel communications recordkeeping violations. The SEC's 2024 enforcement actions (Press Releases 2024-98 and 2025-7) charged dozens of broker-dealers and investment advisers for widespread failures to maintain and preserve electronic communications required under federal securities laws. Personnel at these firms routinely used unapproved platforms such as WhatsApp and personal text messages for business-related communications, undermining the recordkeeping infrastructure required for insider trading and market manipulation surveillance. The SEC found that supervisory personnel responsible for ensuring compliance were themselves violating firm policies by using non-approved communication methods. The off-channel enforcement initiative has resulted in over $2 billion in combined penalties across approximately 70 firms since 2021.
Research Sources
1 organization
Related Exclusions
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The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.