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Posted AT 5:59 PM EST on 04/07/08

TD takes hit on 'incorrectly priced financial instruments'

The Canadian Press, Staff

TORONTO — Toronto-Dominion Bank has disclosed a $96-million loss caused by “incorrectly priced financial instruments” at the TD Securities office in London. The bank blamed “an individual who is no longer with the company” and said Friday it is co-operating with regulators. TD did not say whether the losses were linked to trading mistakes or whether any wrongdoing or criminal activity was involved.

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