The Vanguard Group headquarters are seen in Malvern, Pennsylvania, US. Photo: Mike Mergen/Bloomberg
Two months after Vanguard, one of the largest retirement fund providers in the U.S., paid $40 million to settle a class action lawsuit brought by investors who accused the asset manager of a breach of fiduciary duties over target date funds comes a related Securities and Exchange Commission violation.
Vanguard will now pay $106.41 million to settle charges for misleading statements related to capital gains distributions and tax consequences for retail investors who held Vanguard Investor Target Retirement Funds (Investor TRFs) in taxable accounts, the SEC has announced.
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