04:13 PM EDT, 09/30/2024 (MT Newswires) -- Toronto-Dominion Bank ( MLWIQXX ) agreed to pay nearly $29 million in penalties, victim compensation and forfeiture as part of a deferred prosecution agreement with the US regulators to settle fraud investigations into alleged manipulation of US Treasuries market using spoof orders, according to a court filing on Monday.

The company agreed to pay the US Securities and Exchange Commission a civil penalty of $6.5 million along with $400,000 in disgorgement and $135,700 in prejudgment interest, and $6 million to the Financial Industry Regulatory Authority, according to the filing with the US District Court for the District of New Jersey.

Additionally, Toronto-Dominion Bank ( MLWIQXX ) will pay $9.4 million in criminal penalty, $4.7 million in victim compensation and $1.4 million in forfeiture.

The agreement defers civil and criminal prosecution and investigation into fraud claims for three years and requires the bank to strengthen its compliance mechanisms, the filing added.

Toronto-Dominion Bank ( MLWIQXX ) did not immediately respond to MT Newswires' request for comment.

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