Vanguard Settles with SEC, Agrees to Pay $106 Million
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Vanguard, an American investment group, has settled with the SEC over allegations of misleading investors about its Institutional Target Retirement Funds (TRFs). The SEC claimed that Vanguard provided materially inaccurate information, leading to significant tax liabilities and diminished returns for some investors. As part of the settlement, Vanguard agreed to pay a $106 million fine, which will be distributed to the affected investors. Despite being a major ETF issuer, Vanguard has generally avoided crypto ETFs, and the recent SEC approval of Ethereum ETFs did not change its stance.
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