Civil Plaintiff
Vanguard Will Pay $5.5 Million to Settle a Target Date Fund Investigation
The settlement comes after Galvin’s office opened an investigation earlier this year into Vanguard and several other broker/dealers.
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The settlement comes after Galvin’s office opened an investigation earlier this year into Vanguard and several other broker/dealers.
As a part of the settlement, Vanguard will establish a $5.5 million fund to pay restitution to harmed investors (and spending $200,000 to run it), while paying a one-time fine of $500,000 to the Bay State.
Read the source article at Wealth Management
