Pioneer Group to Pay $106 Million to Resolve SEC Accusations

According to a press release from the US Securities and Exchange Commission (SEC), The Vanguard Group, Inc. will pay $106.41 million to settle allegations of misleading statements regarding its capital gains distribution and tax impact, which affected retail investors holding Vanguard Investor TRFs in taxable accounts. The settlement amount will be distributed to the affected investors. Previously, Tim Buckley, CEO of Vanguard Group, stated that the company will not seek Bitcoin ETFs like competitors such as BlackRock and Fidelity. A spokesperson stated that the reason for not launching a Bitcoin ETF is the same as the reason for never launching a gold ETF, as Bitcoin lacks "intrinsic value," has no cash flow, and is too volatile.