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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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US Military Strikes Houthi Radar Sites in Yemen Following Merchant Sailor’s Disappearance

 

In a significant escalation of the ongoing conflict, the United States military has launched a series of attacks targeting radar sites operated by Yemen’s Houthi rebels. These strikes come in response to the rebels’ assaults on shipping in the crucial Red Sea corridor. The situation intensified after a merchant sailor went missing following an earlier Houthi strike on a ship.

The U.S. Navy, facing its most intense combat since World War II, aims to counter the Houthi campaign. However, the rebel assaults often endanger ships and sailors unrelated to the conflict, further disrupting cargo and energy shipments between Asia, Europe, and the Middle East.

Central Command reported that seven radars within Houthi-controlled territory were destroyed, preventing the rebels from targeting maritime vessels. Additionally, the U.S. military neutralized two bomb-laden drone boats and a Houthi-launched drone over the Red Sea.

The missing merchant sailor was aboard the Liberian-flagged bulk cargo carrier “Tutor,” which suffered a Houthi attack using a bomb-carrying drone boat. The crew was rescued, but the vessel remains in the Red Sea, slowly taking on water.

As the conflict continues, tensions remain high in the region, impacting global trade and security.

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