Q: Comments on the TD penalty news today? To me it seemed expected their growth would be somewhat limited in the US, but in the surface it seems it could have been worse. Market seems to be overreacting a bit I think. Thoughts?
5i Research Answer:
The fine was about what was expected and the business restrictions a bit less. Since this is largely old news, we do think investors have overreacted today. The uncertainty is gone and TD can move on from this event.