Violation Tracker Individual Record
Company:
Bank of Nova Scotia
Current Parent Company:
Scotiabank
Penalty:
$60,400,000
Year:
2020
Date:
August 19, 2020
Offense Group:
competition-related offenses
Primary Offense:
price-fixing or anti-competitive practices
Violation Description:
The Bank of Nova Scotia (Scotiabank) entered into a resolution with the Department of Justice to resolve criminal charges related to a price manipulation scheme involving thousands of episodes of unlawful trading activity by four traders in the precious metals futures contracts markets.
Level of Government:
federal
Action Type:
agency action
Agency:
Justice Department Criminal Division
Civil or Criminal Case:
criminal
Prosecution Agreement:
deferred prosecution agreement
HQ Country of Parent:
Canada
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking
Source Notes:
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.
