SEC Fines Vanguard $106.41 Million Over Target Date Fund Snafu

Today, the SEC announced a $106.41 million settlement with Vanguard following moves Vanguard made in 2020 that resulted in excessive capital gains distributions to retail investors. In this video, I'll walk through the settlement order and what it means to investors.

SEC Announcement: https://www.sec.gov/newsroom/press-releases/2025-21
SEC Order: https://www.sec.gov/files/litigation/admin/2025/33-11359.pdf
$40M Settlement: https://www.reuters.com/business/finance/vanguard-pay-40-million-mutual-fund-investors-stuck-with-big-tax-bills-2024-11-07/

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While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. I've since sold my websites, bought them back, and started a new website and this YouTube channel.

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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.

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