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Massachusetts and Vanguard Group reach interesting settlement that gives the $8-trillion manager a shot at avoiding 49 copycat suits , quick cash for the state and 65% of a loaf for hapless investors

The William Galvin-driven settlement covers the state's legal fees and sets up restitution fund and a state pay-out, but a pending Pennsylvania lawsuit is likely the first of many to follow.

Friday, July 8, 2022 – 2:22 AM by Oisin Breen
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William Galvin: Vanguard’s deliberate decision [benefited] ultra-wealthy shareholders over main street investors.

Related Moves

Oisín's Bits: Betterment now a robo roll-up with Canadian IPO as catalyst • Insurers risk regulation for COVID-19 coverage delays • Vanguard shifts Asia focus to China's vast mom-pop retail market

Betterment rolls up a robo • The CFA warns insurers over COVID-19 life polices • Vanguard names Chinese fund head to pursue $6 trillion market.

March 5, 2021 – 1:16 AM

Karin Risi, who built $170-billion Vanguard Personal Advisor Services, takes new role and Matt Benchener is taking her spot as head of US retail for the $6.3 trillion manager

Risi now heads planning and still directly reports to CEO Tim Buckley and her 34 year-old understudy, Benchener gets her job at year's end.

December 4, 2020 – 2:56 AM



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