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Vanguard to pay more than $100 million to SEC over violations involving target date retirement funds [View all]
MARKETS
Vanguard to pay more than $100 million to SEC over violations involving target date retirement funds
PUBLISHED FRI, JAN 17 2025 12:24 PM EST
UPDATED FRI, JAN 17 2025 3:54 PM EST
Jesse Pound
@JESSERPOUND
@/IN/JESSE-POUND
Darla Mercado, CFP®
@DARLA_MERCADO
KEY POINTS
• The alleged violations stem from a 2020 change where Vanguard lowered the minimum investment requirement for its institutional target date funds.
• The payment of $106.41 million will be distributed to harmed investors, the SEC said. Vanguard agreed without admitting or denying the SEC's findings.
• Vanguard is one of the world's largest asset managers, reporting more than $10 trillion of global assets as of November.
{snip}
Vanguard to pay more than $100 million to SEC over violations involving target date retirement funds
PUBLISHED FRI, JAN 17 2025 12:24 PM EST
UPDATED FRI, JAN 17 2025 3:54 PM EST
Jesse Pound
@JESSERPOUND
@/IN/JESSE-POUND
Darla Mercado, CFP®
@DARLA_MERCADO
KEY POINTS
• The alleged violations stem from a 2020 change where Vanguard lowered the minimum investment requirement for its institutional target date funds.
• The payment of $106.41 million will be distributed to harmed investors, the SEC said. Vanguard agreed without admitting or denying the SEC's findings.
• Vanguard is one of the world's largest asset managers, reporting more than $10 trillion of global assets as of November.
{snip}
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