TD Bank Resolves Treasuries Spoofing Case Amid Wider US Probes

Toronto-Dominion Bank will pay more than $20 million as part of a deal with US prosecutors and regulators to resolve investigations over a former trader’s alleged placement of “spoof” orders to manipulate the US Treasuries market.

The US Department of Justice on Monday said in a New Jersey federal court filing that the Canadian bank entered into a three-year deferred prosecution agreement to end criminal and civil probes into “hundreds of fraudulent spoof orders amounting to tens of billions of dollars of false supply and demand” for US Treasury securities.

A spokesperson for Toronto-Dominion didn’t immediately respond to a request ...