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Society

Compliance

DMA Compliance is one aspect of TD’s overall approach to Risk Management
TD executives, directors and employees look to the Enterprise Risk Framework and our Risk Appetite Statement for a common understanding of how we manage risk.
The mandate of TD’s Compliance Department is to manage compliance risk across the Bank to align with the policies established and approved by the Audit and Risk Committees.
Accountability
  • Chief Risk Officer, Chief Executive Officer, Senior Executive Team, Risk Committee of the Board and Board of Directors
Ways we measure our approach and impacts
  • Risk Management Discussion: AR pages 72
Relevant TD policies
  • TD has many policies to support the management of major risk categories.
More information
G4–SO8 Monetary value of fines and number of non-monetary sanctions for non-compliance with laws/regulations

Compliance Incident Reporting:1

In 2016, TD did not incur any significant monetary fines or significant non-monetary sanctions for non-compliance with laws and regulations.

TD has previously reported on a single family of matters consisting of several related actions alleging civil conspiracy and breach of the Competition Act. The action concerning interchange fees was brought against several Canadian banks, including TD, and our efforts to resolve the action continued through 2016.

In 2016, a purported class action was brought against several defendants, including TD, alleging collusion with one another to manipulate the price of U.S. treasury bonds.

1 For reporting purposes, we determine a significant legal action to potentially exceed $25 million in damages and/or legal costs; a significant fine to be $1 million or over and related to incidents that are of a regulatory nature (penalties of an administrative nature are not considered significant); and a significant non-monetary sanction to be material and related to incidents that are of a regulatory nature.