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TD Waterhouse to settle incentive payments claims

TD Waterhouse, the brokerage firm owned by Toronto Dominion bank, is expected to pay about $2m (€2.4m) to settle claims that it made undisclosed payments to independent investment advisers in return for them promoting its products.

The Securities and Exchange Commission, the US regulator, is believed to be ready to announce a settlement on Thursday. TD Waterhouse has agreed to pay the fine without admitting or denying guilt.

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