Vanguard Settles Misleading Statements Allegations With $106.41 Million Payment

According to PANews, the U.S. Securities and Exchange Commission (SEC) announced that The Vanguard Group, Inc. will pay $106.41 million to settle allegations regarding misleading statements about capital gains distributions and tax impacts. These statements affected retail investors holding Vanguard's Investor Target Retirement Funds (TRFs) in taxable accounts. The settlement funds will be distributed to the affected investors. In related news, Vanguard CEO Tim Buckley stated that the company will not pursue a Bitcoin ETF, unlike competitors BlackRock and Fidelity. A spokesperson explained that the decision is similar to Vanguard's stance on not launching a gold ETF, citing Bitcoin's lack of intrinsic value, absence of cash flow, and high volatility as reasons.