On September 23, 2013 the SEC accepted an Offer of Settlement submitted by TD Bank, N.A. ("TD Bank") in connection to a Ponzi scheme performed by Scott Rothstein. As Rothestein's scheme began to unravel in late 2009, one of TD Bank's former Regional vice Presidents made material misstatements and omissions to investors and prepared false and misleading documents that he knew Rothstein would provide to investors. According to the Settlement "without admitting or denying the findings herein, except as to the Commission's jurisdiction over it and the subject matter of these proceedings, which are admitted, Respondent consents to the entry of this Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act...Respondent shall, within ten days of the entry of this Order, pay a civil money penalty in the amount of $15,000,000."

On September 23, 2013, the SEC announced that it "charged TD Bank and a former executive with violating securities laws in connection with a massive South Florida-based Ponzi scheme conducted by Scott Rothstein, who is now serving a 50-year prison sentence."