TD Bank Pays $814.9M to Settle AML Investigations
Ticker: TDBCP · Form: 6-K · Filed: Oct 10, 2024 · CIK: 947263
| Field | Detail |
|---|---|
| Company | Toronto Dominion Bank (TDBCP) |
| Form Type | 6-K |
| Filed Date | Oct 10, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: regulatory-settlement, aml, legal-fees
TL;DR
TD Bank settles AML probes with DOJ/EDNY for $814.9M.
AI Summary
On October 10, 2024, The Toronto-Dominion Bank (TD Bank Group) announced the resolution of its Anti-Money Laundering (AML) investigations with the U.S. Department of Justice (DOJ) and the U.S. Attorney's Office for the Eastern District of New York (EDNY). TD Bank Group has agreed to pay a criminal penalty of $814.9 million to resolve these investigations.
Why It Matters
This settlement resolves significant legal and regulatory risks for TD Bank, potentially impacting its future operations and reputation in the U.S. market.
Risk Assessment
Risk Level: medium — The settlement resolves major investigations, but the significant penalty indicates ongoing regulatory scrutiny and potential for future compliance issues.
Key Numbers
- $814.9M — Criminal Penalty (Amount paid to resolve AML investigations with DOJ and EDNY.)
Key Players & Entities
- The Toronto-Dominion Bank (company) — Registrant
- TD Bank Group (company) — Commonly referred name for the registrant
- U.S. Department of Justice (DOJ) (company) — Investigating body
- U.S. Attorney's Office for the Eastern District of New York (EDNY) (company) — Investigating body
- $814.9 million (dollar_amount) — Criminal penalty amount
- October 10, 2024 (date) — Date of announcement and filing
FAQ
What specific AML investigations has TD Bank Group resolved?
TD Bank Group has resolved its Anti-Money Laundering (AML) investigations with the U.S. Department of Justice (DOJ) and the U.S. Attorney's Office for the Eastern District of New York (EDNY).
What is the total financial penalty TD Bank Group has agreed to pay?
TD Bank Group has agreed to pay a criminal penalty of $814.9 million.
When was this resolution announced?
The resolution was announced on October 10, 2024.
What form type is this filing?
This filing is a Form 6-K.
Does TD Bank Group file annual reports under Form 20-F or 40-F?
TD Bank Group files annual reports under Form 40-F.
Filing Stats: 199 words · 1 min read · ~1 pages · Grade level 12.2 · Accepted 2024-10-10 17:19:25
Filing Documents
- d829657d6k.htm (6-K) — 10KB
- d829657dex991.htm (EX-99.1) — 29KB
- d829657dex992.htm (EX-99.2) — 52KB
- 0001193125-24-236027.txt ( ) — 92KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. THE TORONTO-DOMINION BANK DATE: October 10, 2024 By: /s/ Caroline Cook Name:Caroline Cook Title:Associate Vice President, Legal Treasury and Corporate Securities