May 22 (Reuters) - Canada's banking regulator has

ordered Toronto-Dominion Bank ( MLWIQXX ) to repair the nerve centre

for its risk controls, The Globe and Mail said on Wednesday.

The Office of the Superintendent of Financial Institutions

(OSFI) identified deficiencies with the bank's Regulatory

Compliance Management program during a recent assessment, the

Canadian newspaper reported, citing two people familiar with the

matter.

Some of the weaknesses detected in OSFI's evaluation of TD

Bank involve the bank's anti-money-laundering controls, the two

sources told Globe and Mail.

TD Bank and the OSFI did not immediately respond to Reuters'

requests for comment.

OSFI's probe into TD Bank comes at a time when the bank is

undergoing scrutiny from both the U.S. and Canadian government

over recent allegations of drug traffickers laundering money at

the bank.

The Wall Street Journal reported earlier this month that the

U.S. Department of Justice (DoJ) is investigating how Chinese

drug traffickers and crime groups used the Canada's

second-largest lender to launder their money from fentanyl

sales, following which the Canadian House of Commons finance

committee said last week it would hold a meeting to discuss the

allegations.

TD Bank said earlier this month that a comprehensive

overhaul of its U.S. and global anti-money laundering program

was well underway, adding that it had invested over C$500

million ($365.34 million) in program remediation and platform

enhancements to address the issues.

($1 = 1.3686 Canadian dollars)