The Securities and Exchange Commission said TD Private Client Wealth must pay a civil penalty of $475,000 to the agency for failing to file mandatory filings.

From at least December 2019 to August 2024, TD Private Client Wealth failed to file forms 13F, despite having had investment discretion over at least $100 million of reportable securities, the SEC said Tuesday.

In August 2024, TD Private Client Wealth filed 18 Forms 13F, which covered the period from the quarter ending Dec. 31, 2019, to the quarter ending March 31, 2024.

The company only filed on time its Form 13F for the quarter ending June 30, 2024. That filing showed that it held positions in 1,216 different Section 13 Securities, with a total market value of about $3.2 billion.

TD wasn't immediately available for comment.

Write to Sabela Ojea at [email protected]; @sabelaojeaguix