Statement Summary
The Securities and Exchange Commission (SEC) has appointed Miller Kaplan Arase LLP as the Tax Administrator for a Qualified Settlement Fund (QSF) related to an administrative proceeding involving The Vanguard Group, Inc. This appointment follows an Omnibus Order issued on December 19, 2024, which authorized the engagement of tax administrators on a case-by-case basis for distribution funds that may incur tax obligations under the Treasury Regulations. The Director of the Division of Enforcement is tasked with appointing the Tax Administrator, and this order formalizes the selection of Miller Kaplan Arase LLP for the calendar year 2025.
Original Statement
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 103020 / May 9, 2025
ADMINISTRATIVE PROCEEDING
File No. 3-22435
In the Matter of
The Vanguard Group, Inc.,
Respondent.ORDER APPOINTING TAX ADMINISTRATOR
On December 19, 2024, the Commission issued an Omnibus Order Extending the Engagement of Two Tax Administrators for Appointment on a Case-By-Case Basis in Administrative Proceedings that Establish Distribution Funds (the “Omnibus Order”). The Omnibus Order engaged Miller Kaplan Arase LLP and Heffler, Radetich & Saitta, LLP to serve as the Commission’s tax administrator (“Tax Administrator”), for selection and appointment on an individual case basis, for the calendar year 2025 in administrative proceedings where the distribution fund may incur tax-related obligations as a Qualified Settlement Fund (QSF) under the Department of the Treasury Regulation § 1.468B-1(c).The Director of the Division of Enforcement is authorized to appoint a Tax Administrator pursuant to the Omnibus Order. The Commission staff has requested the appointment of Miller Kaplan Arase LLP as the Tax Administrator for the QSF in the above-referenced proceeding. Accordingly, IT IS ORDERED that, pursuant to the Omnibus Order, Miller Kaplan Arase LLP is appointed as the Tax Administrator for the QSF in the above-referenced proceeding.
For the Commission, by the Division of Enforcement, pursuant to delegated authority.
Vanessa A. Countryman
Secretary
1 Exchange Act Rel. No. 101986 (Dec. 19, 2024).
2 See Delegation of Authority to Director of the Division of Enforcement, Securities Act Rel. No. 10900 (Dec. 10, 2020).
3 17 C.F.R. § 200.30-4(a)(21)(ii).
