Canada Regulator Orders TD Bank to Overhaul Risk Controls: Globe

Canada’s banking regulator has ordered Toronto-Dominion Bank to repair its risk controls, the Globe and Mail reports, citing unidentified people familiar with the matter.

• The Office of the Superintendent of Financial Institutions identified deficiencies with TD’s regulatory compliance management program during a recent assessment
• TD says “we continuously invest in our RCM program to address changing market dynamics, regulatory feedback and any potential findings, ” spokeswoman Lisa Hodgins said in a statement to Globe
  • OSFI spokesperson declined to comment on confidential matters with the bank; expects board members to be engaged in mitigating non-financial risks: Globe
• NOTE: TD Hopes to ...