Company Directory - TD Securities
Company Details - TD Securities
TD Securities
WebsiteA leading investment firm providing a wide range of financial services including investment banking and capital markets.
CCI Score
CCI Score: TD Securities
-54.59
0.03%
Latest Event
TD Securities USA Settles $20M Penalty for U.S. Treasury Market Spoofing
TD Securities USA, the U.S. broker-dealer unit of TD Securities, agreed to pay over $20 million in fines following allegations of spoofing and market manipulation in the U.S. Treasuries market. The settlement, which concludes a long-running investigation, reflects significant deficiencies in compliance and oversight.
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QUISLING
TD Securities is currently rated as a Quisling.
Latest Events
- OCT012024
TD Securities USA, the U.S. broker-dealer unit of TD Securities, agreed to pay over $20 million in fines following allegations of spoofing and market manipulation in the U.S. Treasuries market. The settlement, which concludes a long-running investigation, reflects significant deficiencies in compliance and oversight.
-60
Business Practices and Ethical Responsibility
March 31
TD Securities USA's admission of engaging in spoofing—the act of placing non-bona fide orders to create a false impression of market demand—demonstrates unethical business practices. Such manipulation undermines market integrity and consumer trust, harming economic stability and disproportionately affecting marginalized communities who rely on fair financial systems.
Toronto Dominion Bank Faces $20M Penalty Over U.S. Market Manipulation
- OCT012024
TD Securities has agreed to pay $28.5 million in fines to US regulators after a spoofing scheme linked to a former employee was uncovered. The incident revealed significant shortcomings in the firm’s internal compliance and supervisory measures, prompting the company to enhance its monitoring systems as part of a deferred prosecution agreement.
-70
Business Practices and Ethical Responsibility
March 31
TD Securities demonstrated serious ethical lapses by failing to establish adequate oversight and supervisory procedures, which allowed for extensive spoofing manipulation. This neglect undermined market integrity and public trust, triggering substantial regulatory penalties and remedial actions.
-30
Regulatory Capture
March 31
The firm’s failure to voluntarily self-disclose the misconduct and the absence of written supervisory procedures contribute to a pattern of regulatory capture. This systemic governance shortfall facilitated the fraudulent activity and reflects broader structural issues within the organization.
- SEP302024
The SEC charged TD Securities for manipulating the U.S. Treasury cash securities market through a spoofing scheme and for failing to adequately supervise its trader, resulting in fines, disgorgement, and a deferred prosecution agreement.
-80
Business Practices and Ethical Responsibility
March 31
TD Securities was charged by the SEC for engaging in manipulative trading practices through spoofing and for inadequate supervision of its trader. These actions undermine ethical business practices and market integrity, reflecting poorly on corporate responsibility and accountability.
- SEP302024
TD Securities entered into a deferred prosecution agreement on September 30, 2024, agreeing to pay over $15.5M in penalties following charges related to a scheme to defraud U.S. Treasuries markets through fraudulent spoof orders.
-80
Business Practices and Ethical Responsibility
March 31
TD Securities engaged in a widespread scheme to manipulate the U.S. Treasuries market by placing hundreds of fraudulent spoof orders. This deceptive trading undermined market integrity and betrayed the ethical responsibility expected of financial institutions.
TD Securities to Pay $15.5M in Connection with Scheme to Defraud U.S. Treasuries Markets
-30
Economic and Structural Influence
March 31
By orchestrating a scheme that distorted the supply and demand in U.S. Treasuries trading, TD Securities misused its position in the financial market, compromising the stability and fairness of the overall economic system.
TD Securities to Pay $15.5M in Connection with Scheme to Defraud U.S. Treasuries Markets
- APR302024
TD Bank Group announced an initial provision of US$450 million in response to regulatory discussions and investigations concerning deficiencies in its U.S. Bank Secrecy Act/anti-money laundering program. The announcement highlights failures in effective monitoring and reporting, which raises questions about the bank’s adherence to ethical financial practices.
-40
Business Practices and Ethical Responsibility
March 31
The event underscores significant deficiencies in the bank's AML program, demonstrating a failure in business practices and ethical responsibility. Such shortcomings not only expose the institution to regulatory penalties but also raise concerns about its ability to safeguard the financial system from illicit activities, which can indirectly facilitate extremist financial networks.
TD Bank Takes an Initial Provision Related to BSA/AML Matters
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