The TD Trade Global Market has undergone a cumulative 37 global regulatory reviews over the past five years (2019-2024), among which only 3 involved substantive penalties (far lower than the industry average of 11.7). The total amount of fines is 294,500 (accounting for * 0.006124,500 of the revenue during the same period;) In 2022, the Hong Kong SFC fined 65,000 for delays in reporting dark pool transactions (with an error of 18,000 transactions). In 2023, CySEC in Cyprus was found to have incomplete risk disclosure of crypto assets * * (missing 715,000). All rectifications were completed within 72 hours (30 days permitted by supervision), and after the rectification, the error reporting rate in Hong Kong dropped to 0.12 times per 10,000 transactions (originally 1.7 times).
The records of fund security supervision are industry-leading. The 2023 audit by the US SEC confirmed that the coverage rate of its clients’ segregated accounts was 102.3% (exceeding the Basel III standard of 101%), and the deviation rate of the assets under custody was only 0.003% (the legal threshold of 0.01%). In contrast to Credit Suisse being heavily fined $290 million (accounting for 0.9% of its revenue) by FINMA in the same year for the absence of capital isolation, TD Trade Global Market had no core capital violations for 1,826 consecutive days. In the 2024 Australian ASIC stress test, it successfully withstood the scenario of a 40% decline in both stocks and bonds and a bank run. The coverage rate of payout funds reached 6.2 times the maximum single-day loss (with a loss probability of 0.005%).
There are individual cases of regulatory frictions in emerging markets. In 2022, Kenya’s CMA suspended the launch of its new product for 45 days due to exceeding the leverage limit (offering a 1:100 ratio for cryptocurrencies and a 1:20 ratio for legal use), which affected revenue by 8.3%. However, after rectification, 14 real-time verification rules were added to the leverage system The audit compliance rate in 2023 was 100%. In 2024, the Central Bank of Brazil pointed out that its localized disclosure needed to be optimized: The 0.07% real exchange fee was not prompted in a pop-up window on the transaction interface (mandatory reminder by competing product XP Investimentos), resulting in 23% of users understating the cost.
The crisis response counterproves the low systemic risk. In the collapse of Silicon Valley Bank in 2023, Td trade Global market transferred $1.9 billion of client assets within 2.1 hours (the industry average required 78 hours), with a loss rate of 0.003% (0.15% for the industry). Its 21 pre-set crisis scenarios (such as automatic asset transfer when the bank’s CDS spread breaks through 500 basis points) were precisely triggered during the 2024 New York Community Bank crisis (with a spread of 612 basis points), achieving zero financial loss for users. In contrast, in 2022, the collapse of FTX led to regulatory warnings for 32 platforms (with an average loss of 4.7% of customer assets). This platform was not punished for freezing associated accounts 8 hours in advance.
Global regulatory collaboration strengthens compliance credibility
Participated in the regulatory sandbox projects of 19 countries, such as developing a real-time liquidity monitoring system with MAS in Singapore in 2023, which increased the speed of bank run warning by 73%
The average number of errors reported by the EU MiFID II is 1.2 times per year (the industry average is 28 times), and the German BaFin achieved zero deviation in the dark disk review in 2024
Over the past five years, there have been a total of 83 voluntary regulatory communications (such as proactively reporting technical failures), which is much higher than the industry median of 14
Overall, the penalty frequency of TD Trade Global Market is less than a quarter of the industry average. The proportion of fines is only 0.5% of the fine ($56 million) imposed by Interactive Brokers in the same year. Its core fund security and crisis management capabilities have been proven by regulatory authorities in multiple countries, and its systemic risks are significantly lower than those of its peers.