(Reuters) - The Vanguard Group has agreed to pay $106.4 million to settle U.S. Securities and Exchange Commission (SEC) charges over misleading statements related to capital gains distributions and tax consequences for retail investors, the regulator said on Friday.

Vanguard to pay $106.41M penalty for misleading investors on capital gains distributions and tax consequences in target date retirement funds.

Vanguard agreed to pay $106.4 million to the Securities and Exchange Commission Friday to settle charges for “misleading statements” connected to its target retirement funds that resulted in higher taxes for retail investors,

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.

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

The Vanguard Group has agreed to pay $106.4 million to settle U.S. Securities and Exchange Commission (SEC) charges over misleading statements related to capital gains distributions and tax consequences for retail investors,

The Vanguard Group, Inc. has agreed to pay $106.41 million to settle charges from the Securities and Exchange Commission (SEC) over misleading statements related to capital gains distributions and tax consequences for retail investors.