Canada's Toronto-Dominion Bank said it would offload its 10.1% stake in U.S. financial services firm Charles Schwab , as part of a strategic review undertaken following a landmark U.S. fine.

Toronto-Dominion Bank will exit its investment in Charles Schwab, the Canadian bank’s first big move under new CEO Raymond Chun to shore up its business following a costly money-laundering scandal.

The Canadian bank plans to exit its 10.1% interest in the brokerage firm, allowing it to shore up capital and strategically shrink to adhere to penalties related to its historic compliance failures.