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.

The violations stem from a 2020 change where Vanguard lowered the minimum investment requirement for its institutional target date funds.

The charges are over misleading statements related to capital gains distributions and tax consequences for retail investors

Thousands of New Yorkers forced to pay higher taxes on their retirement savings are set to receive restitution after a $106 million, multi-state settlement was reached with Vanguard Group. The agreement,

The Malvern investment giant was accused of alleged misleading statements to retail investors in targeted retirement funds.

The regulator determined that the firm failed to provide accurate details regarding the capital gains and tax consequences associated with a change in investment minimums.

The Vanguard Group, Inc. has agreed to pay $106.41 million to settle charges from the Securities and Exchange Commission (SEC) over misleading statements related to capital gains distributions and tax consequences for retail investors.

The Vanguard Group Inc., one of the world's largest asset managers, will pay a $106.41M penalty to resolve charges for allegedly misleading statements related to capital gains distributions and tax consequences for retail investors who held Vanguard Investor Target Retirement Funds in taxable accounts,