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Violation Tracker Individual Record

Company: Bank of Nova Scotia
Current Parent Company: Scotiabank
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $15,000,000
Year: 2023
Date: May 11, 2023
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: The Commodity Futures Trading Commission issued an order simultaneously filing and settling charges against The Bank of Nova Scotia, a provisionally registered swap dealer, and Scotia Capital USA Inc., a futures commission merchant. The order charged the companies withfailing to maintain, preserve, or produce records that were required to be kept under CFTC recordkeeping requirements, and failing to diligently supervise matters related to their businesses as CFTC registrants.
Level of Government: federal
Action Type: agency action
Agency: Commodity Futures Trading Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: Canada
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.