The Vanguard Group has agreed to pay $106.4 million to settle U.S. Securities and Exchange Commission (SEC) charges over misleading statements related to capital gains distributions and tax consequences for retail investors, the regulator said on Friday. 

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Reuters

United Kingdom

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.

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The U.S. Securities and Exchange Commission on Friday said Digital Currency Group Inc. and the CEO of its now-defunct subsidiary Genesis Global Capital LLC have agreed to pay a combined $38.5 million in civil penalties to settle charges they misled investors about Genesis's financial condition.Regulators

Channel News Asia

Government of Singapore

Singapore

Digital Currency Group, former Genesis CEO to pay $38.5 million over SEC charges

The fine stems from a 2020 change by Vanguard that led to redemptions in one class of target date funds.

CNBC

Roberts family

United States

Vanguard to pay more than $100 million to SEC over violations involving target date retirement funds

If you have a 401 (k), you may invest in a target-date fund (TDF) or choose it as an investment option.

如果你有401（k），你可能會投資目標日期基金（target-date fund，縮寫為TDF），或將其作為投資選擇。

目標日期基金對臨近退休投資者的好處和缺點 | 益處 | 401（k）

大纪元 Epoch Times

Falun Gong

Advantages and Disadvantages of Target Date Funds for Investors Approaching Retirement

The U.S. Securities and Exchange Commission (SEC) has announced that asset management giant Vanguard will pay $106.41 million to resolve charges of misleading retail investors about the tax consequences tied to some of the company’s retirement fund products.
Vanguard failed to adequately inform investors of the tax implications stemming from its 2020 decision to lower the minimum investment for its Institutional Target Retirement Funds (TRFs) fr…

The Epoch Times

Epoch Media Group

New York

Vanguard to Pay $106 Million to Settle SEC Charges of Misleading Investors on Retirement Fund Tax Impacts

The SEC claims Vanguard made misleading statements about capital gains distributions and tax consequences to retail investors who held target date funds in retirement accounts.

Bloomberg

Michael Bloomberg

The Vanguard Group

Howard Buffett

BlackRock

Vanguard to Pay $106M Over Retirement Fund Violations

The settlement stemmed from Vanguard’s December 2020 decision to reduce the minimum investment in lower-cost fund classes meant for institutional clients to US$5-million from US$100-million

Vanguard Group to pay US$106-million in SEC accord after saddling investors with big tax bills

The Globe & Mail

Canada

(Reuters) – The Vanguard Group has agreed to pay $106.4 million to settle U.S. Securities and Exchange Commission (SEC) charges over misleading statements related to capital gains distributions and tax consequences for retail investors, the regulator said on Friday. The SEC found that retail investors in certain Vanguard target retirement funds faced higher tax liabilities and were deprived of potential growth in their investment after Vanguard …

WTVB

Midwest Communications

Vanguard to pay $106.4 million to settle US SEC charges, regulator says

A lack of notifications regarding changes to retirement funds drove higher capital gains tax bills for many retail investors, the agency said

Wall Street Journal

Murdoch family

Vanguard to Pay $106.4 Million to Resolve Alleged Violations Linked to Retirement Funds

The post SEC charges Digital Currency Group for misleading investors appeared first on Daily Truth Report • DailyTruthReport.com.

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SEC charges Digital Currency Group for misleading investors

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Vanguard to pay $106.4 million to settle US SEC charges, regulator says

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