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Scotiabank Fined $127M for Price Fixing & Spoofing

August 24, 2020 by Eugene Grygo

Scotiabank Fined $127M for Price Fixing & Spoofing

The Bank of Nova Scotia (Scotiabank) is settling major criminal and civil charges that it engaged in price-fixing and spoofing efforts via precious metals futures contracts. The Toronto-based bank has signed separate agreements with the U.S. Department of Justice and the Commodity Futures Trading Commission (CFTC), with the combined fines totaling approximately $127.5 million. The… Read More >>

Filed Under: Derivatives Operations, Collateral & Margin Management, Derivatives Processing, Securities Operations, Buy-Side, Clearing, Operational Risk, Reconciliation & Exceptions, Settlement, Governance, Diversity, Equity, and Inclusion (DEI), Back-Office, Standards, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Derivatives, Regulatory Compliance, Regulatory Reporting, Industry News Tagged With: Bank of Nova Scotia, CFTC, COMEX, Commodity Exchange Act (CEA), compliance, Nymex, price manipulation, Scotiabank, spoofing, spoofing tactics, surveillance, swap dealer compliance, U.S. Department of Justice

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