Valuable compliance lessons from Scotiabank's $127 million penalty

A top Canadian bank and a major participant in the gold markets has agreed to pay more than $127 million to resolve U.S. regulatory and criminal charges. The settlements announced last week by the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Department of Justice (DOJ) spanned an eight-year period and involved thousands of manipulative orders by four traders at the Bank of Nova Scotia, also known as Scotiabank.

Valuable compliance lessons from Scotiabank's $127 million penalty