More than 15,000 New York investors, including 2,700 Long Islanders, were forced to pay higher capital gains taxes after Vanguard made changes to retirement funds.

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,

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

Vanguard group will pay $106.4 million to settle charges brought by the Securities and Exchange Commission and state officials from New York, Connecticut and New Jersey over alleged misleading statements in fund prospectuses that led retirement plan investors to incur high capital gains taxes.

Vanguard Group Inc. and a subsidiary have agreed to pay $106 million for failing to notify investors of changes in retirement funds.

An investigation by the S.E.C. and several states found that the company had failed to notify investors of changes in the terms of some funds, leading to higher capital gains taxes.

Vanguard Group will pay $106.4 million to settle U.S. Securities and Exchange Commission charges alleging it failed to disclose important tax information about its popular target-date funds, resulting in hundreds of thousands of ordinary investors getting stuck with inflated tax bills.

Vanguard, one of the largest mutual fund companies in the United States agreed to pay investors $106 million, CNN reports.

The alleged violations stem from a 2020 change where Vanguard lowered the minimum investment requirement for its institutional target date funds. The SEC order found that the chan

The settlement stems from a three-year multi-state task force investigation coordinated through the North American Securities Administrators Association’s Enforcement Section Committee.