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TD Bank Settles Spoofing Investigation with $20 Million Payment

  Toronto-Dominion Bank (TD Bank) has agreed to pay over $20 million USD to settle an investigation by U.S. authorities into fraudulent trading practices known as “spoofing.” This settlement resolves allegations that a former TD Bank trader engaged in deceptive tactics to manipulate the U.S. Treasuries market. The investigation revealed that the trader placed large orders with the intent to cancel them before execution, creating a false impression of market demand. This practice, known as spoofing, is illegal under U.S. law as it undermines market integrity and investor confidence. TD Bank’s settlement includes both fines and restitution, reflecting the seriousness of the misconduct. The bank has stated its commitment to maintaining high ethical standards and has taken steps to enhance its compliance and oversight mechanisms to prevent future violations. This case is part of a broader crackdown by U.S. regulators on spoofing and other forms of market manipulation, aiming to ensure fair
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Canada to Introduce Tariffs on Chinese EVs and Batteries in Response to U.S. and Europe

Finance Minister Chrystia Freeland is set to announce a plan to safeguard Canada’s electric vehicle (EV) supply chain from unfair Chinese competition. This move follows similar actions by the United States and Europe, which have raised import tariffs on Chinese-made EVs. 

The Canadian International Trade Tribunal will complete an anti-subsidy investigation before new tariffs can be imposed. Currently, Canada only imports Chinese-made Teslas produced at the U.S. tech giant’s Shanghai factory. However, China plays a significant role in supplying batteries and battery components for EVs globally. In 2021, nearly 80% of all lithium-ion batteries for electric vehicles came from China, and approximately 60% of global EV sales are now Chinese-made. 

The proposed tariffs aim to balance protectionism with emissions reduction efforts, echoing the recent tariff hikes by the U.S. and Europe. 

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