TD WebBroker ISA (Investment Savings Account). | Page 5 | Investing | Discussion forum

Your initial order of Apr 4th has not yet settled. It is fulfilled in that the order was accepted/confirmed, but it will settle today (T+1) and you will be the owner of record of units today. Only after you actually own the first $100k plus of the fund can you then buy $248 more. With the weekend, it means Monday.

Btw, at TDDI, in addition to this pair of sell + buy orders for my TDB8150 => TDB2194 switch request:

1. Trade Date = 05 Apr 2024
Settle Date = 05 Apr 2024
SELL
ISA-TDB@4.55% PA /NL'FRACWE ARE RELATED TO ISSUERAS OF APR 04,2024PART OF SWITCH ORDER

2. Trade Date = 05 Apr 2024
Settle Date = 05 Apr 2024
BUY
TD PRM MN MKT D /NL'FRACDISCLOSURE ENCLOSEDAS OF APR 04,2024PART OF SWITCH ORDER

... I also see this third activity (most recent chronologically):

3. Trade Date = 05 Apr 2024
Settle Date = 04 Apr 2024
DRIP
ISA-TDB@4.55% PA /NL'FRACVALUE = 265.58

Is that DRIP journaled as compensation for accumulated interest between Apr 1st and April 4th? Is there a way to verify that the $265.58 DRIP really bought/reinvested more of the TDB8150, before it then got switched to TDB2194?? Like, is it possible to see more details, i.e. number of "Mutual Fund" units before and after a DRIP event at TDDI? Probably only via the Monthly e-Document statements, right?

The last DRIP activity prior to the DRIP dated April 5 shows as follows:
4. Trade Date = 01 Apr 2024
Settle Date = 28 Mar 2024
ISA-TDB@4.55% PA

Thanks.

AltaRed said
There is nothing to see for additional ISA units as they are automatically priced at $10. $265.58 represents 26.558 units.  

Well, how can one verify that those 26.558 units covering 4-day interest (I suppose between April 1 and April 4, interval including) have really ADDED to the total number of units held PRIOR to the switch? 🙂
I should probably be able to see that with the next monthly statement, issued at the beginning of May - that $265.58 DRIP shown either as re-invested into the switched-to TDB2914, or just as some money amount added to the previous statement's ending balance.

So far, subtracting the March's ending balance and the previous DRIP (item #4 in my prior post), from the CURRENT account balance (i.e. shown under "Holdings"), shows exactly that $265.58 amount, hinting that TDDI didn't try to pull a fast one. 🙂

Thanks.

Just using this thread, hoping for some thoughts by smarter folks than me, regards the Breaking News that TD has been investigated, and fined a record $3Billion by USA regulators for money laundering, and other nice stuff !!!

oh, I should add that I'm way over exposed relative to the $100K max CDIC limit, per account type, etc. Don't want to over - react, but WTF !!! Always figured the Big5 Canadian Banks were solid enough to Never EVER allow this kind of Sh*t to hit the fan. Thoughts ? 🙂

TD Bank provided US$0.45 billion in Q2 2024 and another US$2.6 billion in Q3 2024 for the fines already. That's US$3.05 billion of the total US$3.09 billion of fines.

The remaining US$0.04 billion to be charged in Q4 is not significant. Reported quarterly earnings, capital ratios, and debt ratings, like DBRS AA(high), already include the effect of US$3.05 billion of the US$3.09 billion of fines.

AltaRed said
I think the query is about the safety of deposits outside CDIC insured limits at TD rather than common equity share prices.

The reality is that the sun will likely rise in the West first before there is any deposit risk at TD. Earnings are huge, Tier 1 capital ratio is among the best among Canadian banks, etc, etc.  

Yes, that's correct, AltaRed ... even though I know deep down that if we get to the point where CDIC is in play for one of Canada's Big5 banks, then there will be even bigger issues to deal with. Still, being considerably over that limit in our TDDI Cash Acct. [GICs, ISA, etc], I don't enjoy seeing TD US being the Lead story on major news outlets, highlighting guilty plea, a record breaking fine levied, and incurring restrictions on free market growth. It just ticks me off that such a bank didn't have better oversight and Audit mechanisms in place. I hope heads roll, without the golden handshake, and this is the end of it.

There will certainly be financial impact beyond a one-off fine. Personally I wouldn’t worry about deposits but shareholders shouldn’t be too surprised if outlook switches from bad to worse.

I'm looking at this like Dean, an opportunity. I'm not concerned TD won't survive this. I'm day trading TD and looking for an entry point for a long position when the stock finally settles.

canadian.100 said

I remember well the Home Group (Oaken) serious financial and liquidity situation in 2017 because of fraudulent documentation re mortgages and mortgage brokers and executive misrepresentation to shareholders etc. Company executives broke security laws and misled shareholders. There were several posters here who went into major panic and were worried about their Oaken deposits even though CDIC would likely have covered them up to the limits (and maybe more). As well, the Home Group stock dropped a huge amount at the time perhaps 60%. (I believe TD stock is down perhaps 9% or 10% at this time). All seems forgotten now in regard to Home Group/Oaken and posters have certainly gone back to purchase Oaken GICs full steam.
To the original poster, TD is no way in the very shaky situation that Home Group/Oaken was in 2017 - your funds on deposit at TD will be just fine.  

Stocks can go up and stocks can go down. We had no way of knowing that Buffett would step in to rescue Home Group. Until G&M’s investigation we had no idea about TD’s culture and regulatory problems and criminal activity. Right now we have no idea if this is the end of it or if there is more to come out, eg in Canada. Insiders have more info but even they are unlikely to have the full picture. Problems with corporate culture can be hard to turn around.

Whatever the weather, reputational damage is serious and its not going away tomorrow. Its a bank. Reputation is key. Good management is very important and its not obvious that anything has changed just yet. I agree that the stock will likely recover eventually but bad news will continue trickling for some time and the bottom line will be impacted not just because of the fine.

I am not a betting man but my wild guess is that stock pickers buying “the dip” are in for an extended period of pain before eventual recovery. That said, we don’t have all the cards to make an informed bet; its cat in the hat.

Still, I’ll take the $50 they “gifted” me yesterday for no reason. And I will keep investments with TDDI until my real bribe is repaid in full (I moved quite a bit to TDDI last May for a 2% bribe). I don’t see them being in any danger of going belly up.