UPDATE 1-TD Bank to take charge on mispriced UK instruments

TORONTO, July 4 (Reuters) - Toronto-Dominion Bank (TD.TO: Quote, Profile, Research) said on Friday that it would take a one-time pre-tax charge of about C$96 million ($94 million) because of "incorrectly priced financial instruments" in the London office of its TD Securities unit.

The bank said the problem was tied to the activities of "an individual who is no longer with the company." It had notified regulators and was cooperating with them.

The bank did not say what instruments were mispriced or say how the matter was discovered.

"We are very disappointed that this has occurred," said Ed Clark, president and chief executive of TD Bank.

"Our company has a strong risk culture and we deeply regret this incident. We take this very seriously and will make every effort to ensure that this doesn't happen again." ($1=$1.02 Canadian) (Reporting by Lynne Olver; editing by Janet Guttsman)