The deadline to claim a part of a massive class-action settlement regarding TD mutual funds is quickly approaching.

A settlement was reached with TD Asset Management Inc. for $70.25 million to resolve claims that the financial institution paid trailing commissions (or trailer fees) to discount brokers of mutual funds.

According to TD , mutual funds are a type of investment where “the money collected from various investors is pooled together to invest in different assets, including bonds, stocks, and/or money market investments.” Mutual funds are managed by fund managers who allocate the fund’s assets to produce higher returns for investors.

Trailing commissions paid on mutual funds compensate mutual fund dealers who advise investors. However, over the years, these trailer fees were a

See Full Page