The Wisconsin Department of Financial Institutions said the state is part of a $106 million settlement with Vanguard Marketing Corporation and The Vanguard Group. The settlement resolves claims that Vanguard failed to supervise certain registered representatives and didn’t disclose tax consequences tied to changes in investment minimums for target date retirement funds. Wisconsin DFI Secretary Cheryll Olson-Collins said impacted investors will receive remediation payments through the SEC’s Fair Fund program.
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