The Globe and Mail reports in its Tuesday edition that TD Bank is selling its stake in U.S.-based investment dealer Charles Schwab Corp. for about $14-billion (U.S.) as the lender remediates its anti-money-laundering failings and rejigs its balance sheet to comply with restrictions set by U.S. regulators and law enforcement. The Globe's Stefanie Marotta writes that the sale is part of an extensive overhaul of TD's U.S. business aimed at navigating an asset cap imposed by authorities last fall. New chief executive officer Raymond Chun has been conducting a strategic review to turn around the bank as it invests in extensive remediation requirements to fix gaps in its compliance and risk procedures. TD already sold 40.5 million shares in Schwab last August to raise funds to cover fines connected to the U.S. anti-money-laundering investigation, lowering its previous 12.3-per-cent stake in the firm. The CEO has said "everything is on the table," including selling portions of its mortgage and auto loan portfolios in the U.S. to shore up cash. National Bank analyst Gabriel Dechaine said while the move seems like a "no-brainer," the deal would mean "disposing of an investment that has created tremendous value over the years."