Regulatory Alerts2025-01-31
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Bulletin 3180 - January 31, 2025
Vanguard Marketing Corporation and The Vanguard Group, Inc. agreed to a $106 million global settlement to resolve failures to supervise registered individuals and disclose tax consequences associated with changing investment minimums for target date retirement funds. The settlement provides remediation for 5,580 affected investors in Connecticut, administered by the SEC through its Fair Fund program. This resolution addresses the failure to warn shareholders about capital gains taxes triggered by the migration of assets from Investor to Institutional Target Retirement Funds.
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