Toronto-Dominion Bank is facing fines totalling about US$3.09 billion from U.S. regulators in connection with failures of its anti-money laundering safeguards.
The bank also received a cease-and-desist order and non-financial sanctions from the Office of the Comptroller of the Currency that put limits on its growth in the U.S. after it was found that TD had “significant, systemic breakdowns in its transaction monitoring program.”
More coming.
Companies in this story: (TSX:TD)
The Canadian Press. All rights reserved.
TORONTO – Siskinds LLP says a $70.25 million class-action settlement has been reached with TD Asset Management over commissions paid to discount brokers.
The law firm says the class action members alleged that since discount brokers aren’t allowed to provide investment advice, investors receive no value for the trailing commissions they pay to such brokers.
It says trailing commissions paid on mutual funds are meant to compensate mutual fund dealers for investment advice they provide to investors.
Siskinds says it has filed proposed class actions against several mutual fund managers that have discount brokers, which along with TD Direct Investing, also includes RBC Direct Investing, BMO InvestorLine, CIBC Investor’s Edge, Scotia iTRADE and National Bank Direct Brokerage.
The proposed settlement with TD covers anyone who held units of a TD mutual fund trust through a discount broker on Sept. 11, 2024 or earlier.
TD did not immediately respond to a request for comment on the settlement, which is still subject to approval by the Ontario Superior Court of Justice.
This report by The Canadian Press was first published Oct. 9, 2024.
Companies in this story: (TSX:TD)
The Canadian Press. All rights reserved.
TORONTO – Rogers Communications is confirming plans to broadcast several specialty channels as part of a deal with Warner Bros. Discovery that Bell Media had attempted to thwart.
Rogers saysit will begin airing Discovery and Discovery ID on linear TV in the new year, while others including Animal Planet, Motor Trend and Discovery Science will be available on demand and via Citytv Plus on Amazon Prime Video Channels.
Meanwhile, Bell Media, which previously sought an injunction to block those brands from being broadcast by its competitor, says it has “settled all matters” with Warner Bros. Discovery regarding the channels.
Bell Media also announced it has expanded a licensing deal with the U.S. entertainment and media conglomerate under which Crave is the exclusive home of HBO and Max content in Canada.
The BCE Inc. subsidiary says the new agreement includes a co-production deal to develop original Canadian content and grants Warner Bros. Discovery rights to Bell Media’s original shows for distribution outside of Canada.
In a court application filed in June, Bell Media claimed that a licensing agreement announced this year between Warner Bros. and Rogers violated non-compete provisions Bell had established when it previously secured rights to the content.
Rogers signed multi-year deals with Warner Bros. Discovery, along with NBCUniversal, for their popular lifestyle and entertainment brands in Canada starting next year.
In addition to the Discovery channels, Rogers also added channels licensed to Corus Entertainment Inc., including HGTV and The Food Network. Those are also set to shift hands Jan. 1, 2025.
This report by The Canadian Press was first published Oct. 8, 2024.
The Canadian Press. All rights reserved.
Most people over-complicate the process of achieving success.
Achieving success is often perceived as a complex puzzle, or according to those who play the ‘I’m a victim!’ card, only available to those who are supposedly privileged. The fact is there’s a simple equation for achieving success, which Zig Ziglar famously encapsulated, “You can have everything in life you want if you will just help other people get what they want.”
Side note: “all you want” should be interpreted as “all you need.”
I recommend considering the hiring process from the employer’s perspective. By doing so, you’ll empathize with employers and understand positioning yourself as a candidate who has the skills, experience, and proven track record of helping employers get what they want is a job search strategy that’ll set you apart from your competition, who aren’t approaching their job search with an “I want to help employers” mindset as they have the all-too-common “I want!” mindset.
Success isn’t a complicated journey. With the right mindset, it’s a simple path—help others achieve what they want. However, the mindset I come across most often is the exact opposite; job seekers focused on what they want, as opposed to what employers want, resulting in employers being turned off. Who isn’t turned off by someone solely concerned with their needs and wants, who comes across as “predatory”?
Most job seekers: “Employers need to understand my issues and needs.”
Savvy job seekers: “I need to understand the employer’s issues and needs.”
Job seekers who have their thinking clean and show employers how they can help them achieve what they want are few and far between. Being that rare candidate makes you unique and highly valuable, which is a significant competitive advantage. I can guarantee that your interviewer almost never encounters a candidate who projects an “I’m here to help you” aura.
When viewed holistically, employers want five things:
How can you help an employer achieve any of, or a combination of, the above?
What’s your employee value proposition?
For instance, you can never go wrong assuming the employer wants to be profitable; hence, suggesting cost-saving measures or revenue-generating ideas during your interview will demonstrate your desire to help the company get what it wants, which is to be profitable.
Imagine yourself as a hiring manager. One of your standard interview questions is: “How will you contribute to the company’s success?” or, more directly, “Why should I hire you?”
Candidate A:
“If hired, I will bring enthusiasm, dedication, and hard work to the team. I am a fast learner and have a strong work ethic. I am also a team player.”
Candidate B:
“I bring over 15 years of technical expertise, problem-solving skills, and a commitment to innovation. As head of Gekko’s IT, I led a project to streamline its data analysis processes, increasing efficiency by 20% and reducing employee hours. I achieved this by implementing Cyberdyne Systems’ latest data visualization tools and automating repetitive tasks. I plan to bring this kind of efficiency oversight to Soylent Corporation.”
Which candidate would you lean towards hiring?
Candidate A offers nothing more than their unsubstantiated opinions, which, as I’ve stated in previous columns, employers don’t hire; they hire results. Opinions about yourself, which you should rarely give without quantifying, don’t help your interviewer envision how you’ll help the company get what it wants.
On the other hand, candidate B outlined how they can help the company achieve wanting to optimize employee performance and cost savings. Candidate B thinks like an employer and understands employers are a sucker for candidates with a track record of helping employers get what they want.
Getting hired doesn’t come down to having the shiniest resume, with all the right keywords, being impeccably dressed, having a perfect smile, or sheer luck. Employers hire candidates they feel will get them what they want.
Consider all the successes around you and why they exist.
The success of the above can be attributed to the fact that they’ve designed their offering with the end-user in mind, helping people get what they want.
All successful businesses are based on selling a product or service that’ll help people (read: consumers) get what they want, which is usually intrinsic. A product or service must satisfy a need or want in order to sell. The same applies to job searching. You must fulfill an employer’s need or want. Think of employers as the end users of your services; how do you help employers achieve what they want? Are you communicating your how and willingness to help throughout your job search?
Showing how you can help employers get what they want is how you achieve job search success.
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Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.
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