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Violation Tracker Individual Record

Company: TD Securities (USA) LLC
Current Parent Company: Toronto-Dominion Bank
Penalty: $15,500,000
Year: 2024
Date: September 30, 2024
Offense Group: competition-related offenses
Primary Offense: fraud
Secondary Offense: investor protection violation
Violation Description: TD Securities (USA) LLC (TD Securities), a securities firm based in New York, entered into a resolution with the Justice Department to resolve criminal charges concerning a scheme to defraud that involved hundreds of episodes of unlawful trading in the secondary (cash) market for U.S. Treasuries. TD Securities entered into a deferred prosecution agreement (DPA) in connection with a criminal information filed today in the District of New Jersey charging the company with one count of wire fraud. Under the terms of the DPA, TD Securities will pay over $15.5 million in a criminal monetary penalty, forfeiture, and victim compensation. Under the DPA, TD Securities will pay the equivalent of the statutory maximum criminal fine in connection with the offense (approximately $9.4 million) and will ensure that victims of the offense are made whole through a claims administration process (approximately $4.7 million in victim compensation).
Level of Government: federal
Action Type: agency action
Agency: Justice Department Criminal Division
Civil or Criminal Case: criminal
Prosecution Agreement: deferred prosecution agreement
HQ Country of Current Parent: Canada
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.