2nd Reported Incident of Risk Management Failure at TD Securities' London Office in < 8 Months

The Globe and Mail, Tara Perkins & Paul Waldie, 4 July 2008Toronto-Dominion Bank, which painstakingly avoided the subprime mortgage trouble that forced its peers to take massive subprime writedowns, said it was taking a $96-million hit on Friday after discovering that a London trader had deceived the bank about the value of securities he traded.The bank will now join the ranks of its competitors