Vanguard fined more than $100 million by SEC over violations involving target date retirement funds
The violations stem from a 2020 change where Vanguard lowered the minimum investment requirement for its institutional target date funds.
Vanguard to Pay $106.4 Million to Resolve Alleged Violations Linked to Retirement Funds
The SEC said a lack of notifications by Vanguard drove higher capital gains tax bills for many retail investors.
Vanguard will pay $106 million over 'misleading statements' about retirement funds
Vanguard agreed to pay $106.4 million to the Securities and Exchange Commission Friday to settle charges for “misleading statements” connected to its target retirement funds that resulted in higher taxes for retail investors,
Vanguard fined $106M over retirement fund disclosure violations
The Malvern investment giant was accused of alleged misleading statements to retail investors in targeted retirement funds.
Vanguard to Pay $106 Million in Restitution to Retirement Fund Investors
An investigation by the S.E.C. and several states found that the company had failed to notify investors of changes in the terms of some funds, leading to higher capital gains taxes.
Vanguard to pay $106 million in SEC accord after saddling investors with big tax bills
Vanguard Group will pay $106.4 million to settle U.S. Securities and Exchange Commission charges alleging it failed to disclose important tax information about its popular target-date funds, resulting in hundreds of thousands of ordinary investors getting stuck with inflated tax bills.
Vanguard to Pay $106 Million Over Retirement Fund Violations
Vanguard Group will pay more than $106 million to settle US Securities and Exchange Commission allegations that it made misleading statements about capital gains distributions and tax consequences to retail investors who held popular target-date retirement funds in taxable accounts.
Vanguard agrees to pay investors $106 million after failing to disclose retirement fund changes
Vanguard, one of the largest mutual fund companies in the United States agreed to pay investors $106 million, CNN reports.
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Vanguard Group to pay US$106-million in SEC accord after saddling investors with big tax bills
The settlement stemmed from Vanguard’s December 2020 decision to reduce the minimum investment in lower-cost fund classes ...