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Violation Tracker Individual Record

Company: Bank of Nova Scotia
Current Parent Company: Scotiabank
Penalty: $12,500,000
Year: 2022
Date: August 8, 2022
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Violation Description: Barclays Bank, Bank of Nova Scotia, Societe Generale and London Gold Market Fixing Limited together agreed to pay $50 million to settle their role in multi-district litigation regarding price-fixing in the gold market. Court documents did not specify how much each party would pay. Here we assume each paid one-fourth of the total.
Level of Government: federal
Action Type: private litigation
Court: Southern District of New York
Civil or Criminal Case: civil
Case ID: 1:14md2548
Case Name: In Re: Commodity Exchange, Inc., Gold Futures And Options Trading Litigation
Private Lawsuit Resolution Type: settlement
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)
Link to PACER Case Docket (must be logged in): (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.