Defendant Name:
TD Bank
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
The Toronto-Dominion Bank
SIC Code:
6029
CUSIP:
89116050
Document Reference:
33-9453
Document Details
Legal Case Name
In the Matter of TD Bank, N.A.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to 8A of the Securities Act of 1933, Making Findings, and Imposing a Cease-and Desist Order
Document Date
23-Sep-2013
Document Format
Administrative Proceeding
Allegation Type
Securities Offering
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Fair Funds
Monetary Penalties:
Civil Penalty
Individual:
$15,000,000.00
Shared:
