Galvin examining ‘surprise’ taxes on target-date funds
The Massachusetts securities regulator's latest sweep targets the broker-dealers of the largest fund companies in the industry: Vanguard, Fidelity, T. Rowe Price, BlackRock and American Funds.
William Galvin, Massachusetts Secretary of the Commonwealth, said Tuesday he had launched an inquiry into the broker-dealer arms of some of the largest mutual fund companies in the industry, seeking information regarding potential tax disclosure issues with target-date mutual funds.
The broad sw
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