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

  • Vanguard Group Inc. Will pay $106 million to settle charges from the U.S. Securities and Exchange Commission for failing to inform investors about retirement fund changes that caused higher taxes.
  • Over 15,000 New Yorkers, including 2,700 from Long Island, were affected by increased capital gains taxes due to Vanguard's actions.
  • The SEC found that Vanguard did not properly disclose the impact of lowering the minimum investment for its target date funds, leading to taxable distributions for some shareholders.
  • Vanguard agreed to the settlement without admitting or denying the SEC's findings, and the fine will be distributed to harmed investors.
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The Epoch TimesThe Epoch Times

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

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…

·New York, United States
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NewsdayNewsday

State AG, SEC reach $106M settlement from investment adviser Vanguard Group

More than 15,000 New York investors, including 2,700 Long Islanders, were forced to pay higher capital gains taxes after Vanguard made changes to retirement funds.

·United States
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Law360Law360

Vanguard To Pay SEC, States $106M Over Surprise Tax Bills

The U.S. Securities and Exchange Commission was joined by dozens of state regulators Friday in announcing a $106.4 million settlement with The Vanguard Group Inc. over claims that the company misled investors about the heightened capital gains taxes they would have to pay on certain retirement savings accounts.

·New York, United States
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Wall Street JournalWall Street Journal

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

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

·New York, United States
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ReutersReuters
+2 Reposted by 2 other sources

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.

·United Kingdom
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Wispolitics.comWispolitics.com

Dept. of Financial Institutions: Wisconsin joins $106 million multi-state settlement with Vanguard over big tax bills, remediation to investors

MADISON, Wis. — The Wisconsin Department of Financial Institutions (DFI), a member of the North American Securities Administrators Association (NASAA), today announced Wisconsin has joined a taskforce of state securities regulators and the United States Securities and Exchange Commission (SEC) in a $106 million settlementwith...

·Madison, United States
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大纪元 Epoch Times broke the news in on Friday, January 17, 2025.
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