The Globe and Mail reports in its Monday edition that TD Bank is limiting the ways in which its advisers discuss the industry with clients, banning staff from recommending almost all marijuana firms and exchange-traded funds (ETFs). The Globe's Clare O'Hara and Christina Pellegrini write that TD is also prohibiting portfolio managers from pro-actively adding most cannabis shares to client investment accounts -- unless clients specifically instruct their adviser to do so. As a result, TD Wealth Private Investment Advice has put dozens of pot stocks and the four cannabis ETFs onto its non-approved list of securities, leaving advisers with only three Canadian marijuana stocks to suggest. As of Friday, TD advisers were approved to recommend the country's largest publicly traded producer of the drug, Canopy Growth, and two smaller, growers called Emerald Health Therapeutics and Emblem. The restrictions put on advisers who work at PIA appear to be driven out of concern of the legal risks the bank could face in the United States, where cannabis is legal in some states but illegal under federal law. The TD policy includes companies with no U.S. operations; it is not clear why those companies are included.