TD Victim Compensation Fund

TD Securities (USA) LLC (“TD”) entered into a deferred prosecution agreement (DPA) with the United States, Department of Justice, Criminal Division, Fraud Section (the “Fraud Section”) to resolve criminal charges concerning a scheme to defraud involving hundreds of episodes of unlawful trading in the secondary (cash) market for U.S. Treasuries. The Department of Justice hired Epiq Class Action & Claims Solutions, Inc. (“Epiq”), to serve as the Victim Compensation Administrator for this matter.

Between April 3, 2018, and May 14, 2019, TD admitted to knowing acts of spoofing and layering for U.S. Treasuries Products including five-year U.S. Treasury notes, ten-year U.S. Treasury notes, and 30-year U.S. Treasury bonds. At times during the spoofing and layering scheme, TD provided a false impression of supply and demand to other market participants trading U.S. Treasuries Products. In this way, TD allegedly manipulated and artificially increased or decreased the market prices of U.S. Treasuries Products with the intent to benefit itself. A charge is merely an accusation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

TD agreed to pay the amount of $4,707,332 in order to compensate victims for their losses.

A Petition is a request made to the Fraud Section by victims to recover money that they have lost as a result of a particular event. The final petition decisions are made by the Fraud Section, on behalf of the Department of Justice.

Yes, the filing deadline to file a petition is February 27, 2026.

You may file online here. You may also request to have a copy of the petition mailed to you by emailing info@TDVictimCompensation.com.

To qualify for payment, you must complete the Petition form and submit any supporting documentation requested to the Victim Compensation Administrator online or by mail no later than February 27, 2026.

No, you do not need an attorney to file a petition.

The Department of Justice does not charge fees for you to participate in this process.

Adjusted losses have been calculated by the Fraud Section. Should any funds remain after the distribution, other expenses may be reimbursed from the Victim Compensation Amount such as attorney fees or other collateral expenses upon review.

Yes, Epiq will provide a Notice of Deficiency to all Petitioners with deficient Petitions specifying the additional information that must be submitted. The deficiency must be corrected within 30 days of the mailing date of the Notice of Deficiency. If the deficiency is not cured within 30 days or any extension thereof, the Victim Compensation Administrator will recommend to the Fraud Section that your Petition should be denied.

Social security numbers are collected to maintain compliance with the Debt Collection Improvement Act of 1996 (DCIA), 31 U.S.C. § 3716. The DCIA requires the Department of the Treasury and other disbursing officials to offset Federal payments to collect delinquent non-tax debts owed to the United States, or delinquent debts owed to states, including past-due child support enforced by states. If an offset is made during an electronic funds transfer, the petitioner will receive a notification from the Department of the Treasury at the last address provided by the debtor to the creditor. If you believe that your payment may be subject to an offset, you may contact the Treasury Department at 1-800-304-3107. If you have a social security number, failure to provide the number will result in denial of your Petition.

If you have an ITIN, enter your ITIN instead of a Social Security Number.

If you do not have an ITIN or a Social Security number, you will be asked to explain why you do not have one.

No. You are not required to be a United States citizen or in the United States to file a petition.

Yes. If the person who invested is deceased, please submit the petition in the name of the deceased, and include verification of the death and documents showing that you represent the estate.

Yes, but they will need to supply signed documents from each victim indicating they represent them and are permitted to file the Petition on their behalf. The SSN/TIN provided must be that of the client and not the attorney.

If you need the name changed on the petition, please provide third party documentation to reflect the name change. For individuals, examples of third-party documentation can include a marriage certification or driver’s license. For businesses and entities, examples of third-party documentation can include by-laws, articles of incorporation, etc.

It will still take some time—potentially a year or more, to process and verify petitions, and determine who is eligible to get a payment. Check this website for updates on the status of the process.

If you do nothing, you will not be eligible to receive a payment from the Victim Compensation Fund.

You may obtain additional information by contacting the Victim Compensation Administrator using the contact information located here.

You can update your contact information by emailing info@TDVictimCompensation.com.

Epiq is a notice and class action claims administrator. Epiq has been engaged as the Victim Compensation Administrator by the Fraud Section.