Ethics
This branch of finance deals with moral principles and guides how businesses like TD Bank should operate responsibly
What is Ethics?
This three-letter acronym represents laws designed to prevent criminals from disguising illegally obtained money as legitimate income?
What is AML (Anti-Money Laundering)?
When was TD founded?
Where is TD headquartered?
What is Toronto?
This illegal activity involves disguising illegally obtained money to make it appear legal.
What is money laundering?
What sections of the code of ethics (mentioned in the presentation) did TD breach?
TD Bank's failure to monitor transactions led to a massive fine from this U.S. department responsible for enforcing financial laws?
What is the Department of Justice (DOJ)?
Auditors and regulators repeatedly flagged TD for problems with this
What is AML or Monitoring?
How long did TD launder money for?
What is a decade?
TD Bank employees were caught accepting these small prepaid incentives to approve fraudulent transactions.
What are gift cards?
Companies create these internal guidelines to ensure employees follow ethical and legal standards.
What is Code of Conduct?
Instead of reporting suspicious activity, TD bank's management failed to comply with this CFA standard.
What is Responsibilities of supervisors, knowledge of the law, transparency?
What exchanges are TD listed on?
What is TSX and NYSE?
The U.S. Department of Justice report revealed that TD Bank failed to monitor this percentage of domestic clearing house transactions.
What is 92%?
In 2024, TD Bank admitted to allowing over $670 million from this type of criminal organization to pass through its accounts.
What is Drug Cartels?
What outlines clear expectations for finance professionals: to act with integrity, diligence, and respect in their dealings with the public, clients, and employers
What is the CFA code of ethics?
Regulators found that TD Bank failed to monitor this massive amount in transactions, allowing criminals to move money unchecked.
What is $18.3 trillion?
What is BMO, RBC?
What are one of the four major segments that TD operates in?
What is Canadian commercial and personal banking, U.S. retail, wealth management, insurance, and wholesale banking?
How much was TD fined?
TD Bank’s compliance failures show a disregard for this CFA ethical duty, which requires members and firms to prioritize their legal responsibilities.
What is knowledge of the law?
In 2024, TD Bank agreed to this compliance restriction, preventing it from growing its U.S. business until it fixes its issues?
What is an asset cap?
This strict policy of keeping a flat budget despite increasing risk is what?
What is flat cost paradigm?
In 2023, TD Bank canceled a planned $13.4 billion acquisition of this U.S. bank due to regulatory concerns.
What is First Horizon?
The criminal fine, by law charges a $______ per day for the period of the violation.
What is $500,000?