Toronto-Dominion Bank will pay more than $20 million as part of a deal with US prosecutors and regulators to resolve investigations over a former trader’s alleged placement of “spoof” orders to manipulate the US Treasuries market.

The U.S. broker-dealer unit of Toronto Dominion Bank has agreed to pay over $20 million under a deal with U.S. authorities to settle charges that it manipulated the U.S. Treasuries market. TD Securities USA,

Toronto-Dominion Bank is set to pay more than $20 million US as part of a deal with American authorities to resolve an investigation into a former employee's fraud trading tactics to manipulate the U.