This week, the Office of the Comptroller of the Currency (OCC) assessed a $37,500,000 penalty against Wilmington, Delaware-based TD Bank, N.A., for violations of the Bank Secrecy Act. The OCC found that the bank violated federal suspicious activity reports (SARs) regulations when it failed to report activity occurring from April 2008 to September 2009 in accounts belonging to the Ft. Lauderdale law firm Rothstein Rosenfeldt Adlter, P.A., through which "Scott Rothstein ran a $1.2 billion Ponzi scheme." The OCC determined that "[t]he failures to file SARs were significant and egregious for a number of reasons, including the number of alerts generated by these accounts and the volume and velocity of funds that flowed through them." That penalty will be paid to the U.S. Department of the Treasury, while an additional $15 million penalty was assessed by the Securities and Exchange Commission (SEC). For more, read the full press release.