Global Banking and Markets Legal
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Professionalism demands that our well-respected research adheres to the highest standards of independence and objectivity. Well before it became a front-page issue, we maintained strict divisions between our investment banking activities and our equity analysis. High analyst standards, together with appropriate compliance policies, disclosure and transparency, ensure that our clients have confidence in the integrity of our research products and processes.
For more information, please see our Analyst Standards and Disclosure Policy.
For company-specific disclosures and disclaimers, please visit our Disclosure Lookup website.
The Financial Consumer Protection Framework (Canada) is in force from June 30, 2022. The disclosures below are required under the framework. See the Complaints section for additional required disclosures.
Voluntary Codes of Conduct Disclosures
For information about Scotiabank’s Canada voluntary codes of conduct visit Codes of Conduct and Public Commitments.
Whistleblower Policy and Procedures
Where a Scotiabank entity is a direct participant in a Central Securities Depository (“CSD”) authorised under Central Securities Depositories Regulation (“CSDR”), that Scotiabank entity is required to:
1. Offer its clients the choice of omnibus client segregation and individual client segregation at the CSD and inform them of the costs and risks associated with each option (as set out in Article 38(5) CSDR); and
2. Publicly disclose the levels of protection and the costs associated with the different level of segregation provided (as set out in Article 38(6) CSDR).
In compliance with Article 38 (5&6) CSDR, clients of Scotiabank's Global Banking and Markets business should review the following CSD account offer notices and, if required, contact their Scotiabank relationship manager to discuss their choice of CSD account segregation.
The Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) was enacted by the United States Congress in July 2010 for the purpose of increasing transparency and reducing risk in the Over the Counter (OTC) derivatives market, among other things. The Bank of Nova Scotia (BNS) is provisionally registered as a non-U.S. Swap Dealer with the National Futures Association (NFA) as required by Commodity Futures Trading Commission (CFTC) regulations, and conditionally registered as a non-U.S. Security-Based Swap Dealer with the Securities and Exchange Commission (SEC). As a provisionally registered non-U.S Swap Dealer and conditionally registered non-U.S Security-Based Swap Dealer, BNS is subject to several requirements under the DFA, including enhanced Business Conduct Standards as set forth in the DFA. Pursuant to these rules, BNS is required to obtain additional Know Your Client (KYC) information and specific representations, as well as to provide certain disclosures and notifications to all swap and security-based swap counterparties. To help facilitate compliance with these requirements, the below links include BNS-specific disclosures in addition to the industry-wide International Swaps and Derivatives Association (ISDA) General Disclosure Statement and the Annexes for the interest rate, foreign exchange, equity, credit and commodities asset classes. BNS reserves the right to update and/or amend these disclosures from time to time without providing you prior notice. Consequently, going forward, we request that you please monitor this page on a regular basis as disclosure documents may be amended and new disclosure documents may be added.
ISDAs Disclaimers: ISDA holds copyright on certain ISDA documents and that such works may not be reproduced or distributed without ISDA’s written permission, except for master agreements and credit support documents and standardized general and product specific risk disclosures, which may be reproduced and distributed in documenting commercial transactions. The use of the online web-based repository of ISDA disclosure documentation in digital format (“ISDA Content”) should only be undertaken after securing appropriate legal advice on its provisions and that ISDA makes no warranty, express or implied, concerning the respective ISDA Content’s suitability for use in any particular transaction and bears no responsibility or liability whatsoever, whether in tort or in contract, in respect to any use of this content. Furthermore, ISDA, its officers, directors, employees, subcontractors, agents, successors or assigns (“Covered Parties”) shall not be liable to you for any loss, injury, claim, liability or damage of any kind whatsoever resulting from, arising out of or in any way related to: (a) any errors in or omissions from the ISDA Content; (b) your use of the ISDA Content; (c) your use of any equipment or software in connection with the ISDA Content; or (d) any delay or failure in performance. The aggregate liability of the Covered Parties to you in connection with any other claim arising out of or relating to the ISDA Content shall not exceed $500.00, which right shall be in lieu of all other remedies that the client may have against ISDA. In no event shall the Covered Parties be liable for any special, indirect, incidental or consequential damages of any kind whatsoever (including, without limitation, attorneys’ fees), lost profits or lost savings in any way due to, resulting from or arising in connection with the ISDA Content contained therein, regardless of any negligence of the Covered Parties.
NOTICE: The documents under the ISDA Disclosures and Additional BNS Disclosures sections of this page are password protected. To obtain access, please contact GBMDerivatives.Onboarding@scotiabank.com. These documents are solely for purposes of your review and the password, in respect of these documents, cannot be shared without consent from Scotiabank.
Additional BNS Disclosures
BNS Dodd Frank Act Disclaimers: This material has been prepared and distributed by The Bank of Nova Scotia for informational and marketing purposes only and should not be construed as an opinion as to whether you should enter into any swap or security-based swap or trading strategy involving a swap or security-based swap, as the case may be. The general transaction, financial, educational and market information contained herein is not intended to be, and does not constitute, a recommendation of a swap or security-based swap or trading strategy involving a swap or security-based swap, as the case may be. This material is not intended to be individually tailored to your needs or characteristics and should not be viewed as a “call to action” or suggestion that you enter into a swap or security-based swap or trading strategy involving a swap or security-based swap, as the case may be. You need to exercise independent judgment in evaluating this material, and you should consult with your own independent financial, legal, accounting, tax and other professional advisors as to whether any swap or security-based swap or trading strategy involving a swap or security-based swap, as the case may be, is suitable or advisable for you.
™ Trademark of The Bank of Nova Scotia, used under license (where applicable). Scotiabank is a marketing name for the global corporate and investment banking and capital markets businesses of The Bank of Nova Scotia and certain of its affiliates in the countries where they operate, including Scotia Capital Inc. (Member-Canadian Investor Protection Fund and regulated by the Investment Industry Regulatory Organization of Canada). Scotia Capital (USA) Inc. is a broker-dealer registered with the SEC and a member of FINRA, NYSE, NFA and SIPC. The Bank of Nova Scotia is authorized and regulated by the Office of the Superintendent of Financial Institutions Canada. The Bank of Nova Scotia is supervised by the Board of Governors of the Federal Reserve System and applicable Federal Reserve Banks, and licensed and supervised by New York, Texas and Florida regulators. The Bank of Nova Scotia is authorized by the UK Prudential Regulation Authority and is subject to regulation by the UK Financial Conduct Authority and limited regulation by the UK Prudential Regulation Authority. Details about the extent of The Bank of Nova Scotia’s regulation by the UK Prudential Regulation Authority are available from us on request. Scotiabank Europe plc is authorized by the UK Prudential Regulation Authority and regulated by the UK Financial Conduct Authority and the UK Prudential Regulation Authority. Scotiabank (Ireland) Designated Activity Company (SIDAC) is authorised and regulated by the Central Bank of Ireland (CBI). The Bank of Nova Scotia and certain of its affiliates are subject to regulation by regulators in Australia, Singapore, Hong Kong, Korea, The People’s Republic of China, Japan, Malaysia and India, including by the Hong Kong Monetary Authority, the Hong Kong Securities and Futures Commission and the Monetary Authority of Singapore. Scotiabank Inverlat, S.A., Institución de Banca Múltiple, Grupo Financiero Scotiabank Inverlat; Scotia Inverlat Casa de Bolsa, S.A. de C.V., Grupo Financiero Scotiabank Inverlat and Scotia Inverlat Derivados, S.A. de C.V., are each authorized and regulated by the Mexican financial authorities. Scotiabank Colpatria S.A. is duly authorized by the Colombian Financial Superintendence to promote and advertise The Bank of Nova Scotia’s (Scotiabank) products and services by Resolution 058 of 2014. Scotiabank Chile is regulated by the Superintendencia de Bancos e Instituciones Financieras. Scotia Corredora de Bolsa Chile S.A. and Scotia Administradora General de Fondos Chile S.A. are each regulated by the Superintendencia de Valores y Seguros. Not all products and services are offered in all jurisdictions. Services described are available only in jurisdictions where permitted by law. This information is not directed to or intended for use by any person resident or located in any country where its distribution is contrary to the laws of such country. Full disclaimers, and terms and conditions may apply to individual products and banking services.
Pillar III Disclosures
Prior to 2017, Pillar 3 reporting requirements have been complied with through a combination of disclosures in the Company’s published financial statements and the disclosures of its ultimate parent company, The Bank of Nova Scotia, in the annual Scotiabank Financial Statements and Supplementary Financial Information.
The audited Financial Statements of Scotiabank (Ireland) Designated Activity Company are available at http://www.cro.ie.
Scotiabank (Ireland) Designated Activity Company Supplementary Pillar 3 disclosure for 2016 under the Capital Requirements Directive is available here and the Supplementary Pillar 3 disclosure for 2015 is available here.
The Scotiabank Financial Statements and Supplementary Financial Information for the same financial year are available on the following pages;
Scotiabank (Ireland) Designated Activity Company is a private company registered in Ireland No. 30350. Registered office, IFSC House, Custom House Quay, Dublin 1, Ireland. Scotiabank (Ireland) Designated Activity Company is regulated by the Central Bank of Ireland.
Central Securities Depositories Regulation (CSDR)
MiFID II - Top 5 Execution Venue Reports
Trading in securities involves risks, including the risk of loss. This document and the products and strategies described herein (collectively, the “Products”) are intended for use only by sophisticated professional and institutional investors. Investors should trade utilizing the Products only after consultation with their financial, legal and tax advisors and only after making a determination that the Products are suitable for their risk tolerance and investment objectives. Scotiabank cannot provide any assurances that the Products will achieve their intended results or that the Products will outperform alternative similar products or strategies. While this document describes how the Products are intended to work under normal market conditions, the actual performance of the Products may not achieve their intended results, particularly during periods of unusually high volatility, unusually low liquidity and/or other extraordinary market conditions. Nothing in this document should be construed as tax advice and no description of the Products contained herein takes into account the tax consequences of executing transactions utilizing the Products.
The following terms apply if you access any of the social media pages, accounts, sites, channels and/or any application(s) within the said pages, accounts, sites, channels and podcasts which have been established and administered by The Bank of Nova Scotia (each individually referred to as a "Social Media Page", collectively referred to as the "Social Media Pages"). The term "Websites" (defined earlier in these Terms) includes Social Media Pages. The term "Social Media Page Website" refers to the website which hosts the Social Media Pages you are accessing.
Scotiabank and its affiliates or related entities, and their successors and assigns, and their respective directors, officers and employees (collectively “BNS”) are not liable for any errors or omissions on any Social Media Page, or for any loss or damages suffered as a result of anything appearing on any Social Media Page. Any information or views provided on our Social Media Pages are current as of the date indicated and are subject to change without notice. Any information provided on a Social Media Page is for information purposes only, and does not constitute any financial, legal, tax, investment or other advice. Where such statements are based on information provided by third parties, they are not guaranteed to be accurate or complete. Any graphs, charts, or graphics are used for illustrative purposes only and do not reflect any future event or future value or performance of any investment. Any products and services, including investment, trading or tax strategies, must be evaluated relative to each individual’s goals, objectives, and risk tolerance. BNS is not responsible for anything posted to any Social Media Page by third parties, and provides no representation, warranty or conidtion as to the accuracy or completeness of information contained in such material. The views expressed on our Social Media Pages do not necessarily represent or reflect the views of BNS. BNS is not responsible for, and disclaims any liability in relation to, anything posted by contributors to, or users of, our Social Media Pages.
1. You will not post any Content on any Social Media Page that may be inappropriate in nature. This means that any Content you submit, including linked Content, must not be inappropriate, abusive or otherwise offensive, and must not contain, depict or involve (without limitation) any of the following:
- Profanity or otherwise offensive language;
- Nudity or pornographic material;
- Derogatory characterizations of any ethnic, racial, gender, professional, age or religious groups;
- Content that endorses or condones any illegal, inappropriate or risky activity or behavior or any particular political party, agenda or message;
- Any Content that defames, misrepresents or contains disparaging remarks about other people, products or companies;
- Content that endorses any form of hate or hate group;
- Content that communicates message or images inconsistent with the positive images and/or goodwill to which BNS wishes to associate or that would reflect negatively on the name, reputation or goodwill of Scotiabank, its subsidiaries or affiliates; or
- Any other Content that is or could be considered illegal, inappropriate, unsuitable or offensive, all as determined by BNS in its sole discretion
2. You will not post or submit any third party Content unless you have first obtained consent from the owner of such Content. By posting and/or submitting Content to a Social Media Page, you represent that you have the right to share the material in your submitted Content, including, intellectual property such as, but not limited to, trademarks and copyrighted material. For example:
- You must obtain consent from every person who helped you create the Content (e.g. photographers, videographers, etc.).
- You cannot post, submit or otherwise use (in any Content you post) any music, logos, trademarks or other copyrighted materials (e.g. photographs, pictures, texts, lyrics, etc.) unless you have first obtained consent from the owner of such materials.
3. You will not post or submit any personal information about yourself or third parties (e.g. addresses, phone numbers, email addresses) or disclose any financial information pertaining to yourself or others on any Social Media Page.
4. You will not post Content that contains images, photos or likenesses of individuals, including without limitation celebrities and/or other public or private figures, unless you first obtain consent from every identifiable person (and his/her parent/legal guardian if he/she is under the age of majority in their jurisdiction of residence) who appears in your posted Content (note: if you cannot obtain the appropriate consent for an identifiable individual appearing in your posted Content, then his/her face must be blurred out or otherwise made unidentifiable).
5. You will not post Content containing advertisements, personal or commercial solicitations, “spam” or junk mail content, or references to other websites.
You (and your parent/legal guardian if you are under the age of majority in your jurisdiction of residence) hereby agree to release, and hold harmless BNS from and against any and all claims based on any Content you post and/or submit, including (without limitation) claims based on publicity rights, defamation, invasion of privacy, copyright infringement, trademark infringement or any other intellectual property related cause of action.
Our Social Media Pages and all content are provided “as is”. By accessing and using a Social Media Page you (and your parent/legal guardian if you are under the age of majority in your jurisdiction of residence) acknowledge and agree that use of such Social Media Page and the content is entirely at your own risk. BNS is not liable for any errors or omissions in the information provided on any Social Media Page, or for any loss or damages suffered as a result the information and materials appearing on any Social Media Page or relating to any other matter.
The symbols ® and ™ designate a Canadian registered trademark and, generally, unregistered trademark status respectively. Registered trademarks of The Bank of Nova Scotia in Canada include: Scotiabank; Scotia; Flying “S” and design; Scotiabank & Flying “S” and design. The Bank of Nova Scotia has additional trademarks, registered and unregistered, in Canada and other countries, which may appear on a Social Media Page.
Professionalism demands that our well-respected research adheres to the highest standards of independence and objectivity. Well before it became a front-page issue, we maintained strict divisions between our investment banking activities and our equity analysis. High analyst standards, together with appropriate compliance policies, disclosure and transparency, ensure that our clients have confidence in the integrity of our research product and processes.
For more information, please see our Analyst Standards and Disclosure Policy and GBM Best Execution Policy for Institutional Customers. Please note that different standards apply to the equity research produced in Mexico, by Scotiabank Inverlat S.A., Institución de Banca Multiple, Grupo Financiero Scotiabank Inverlat, or Scotia Inverlat Casa de Bolsa S.A. de C.V., Grupo Financiero Scotiabank Inverlat.
For more information on our other Scotia Capital Inc. policies and disclosures, please see the following documents:
IMPORTANT: THIS NOTICE GOVERNS USE OF THIS WORLD WIDE WEB SITE ("SITE") GBM.SCOTIABANK.COM BY ACCESSING THIS SITE, YOU AGREE TO THE FOLLOWING TERMS. IF YOU DO NOT AGREE TO THESE TERMS, DO NOT ACCESS THIS SITE.
1. The Scotiabank trademark, together with “Global Banking and Markets”, is a marketing name for the global corporate and investment banking and capital markets businesses of The Bank of Nova Scotia and certain of its affiliates in the countries where they operate, including Scotia Capital Inc. Used under license.
2. This site contains information regarding the products and services of the corporate and investment banking businesses of The Bank of Nova Scotia; Scotia Capital Inc.; Scotia Capital (USA) Inc.; Scotiabanc Inc.; Citadel Hill Advisors L.L.C.; The Bank of Nova Scotia Trust Company of New York; Scotiabank Europe plc; Scotiabank (Ireland) Designated Activity Company; Scotiabank Inverlat S.A., Institución de Banca Múltiple, Grupo Financiero Scotiabank Inverlat; Scotia Inverlat Casa de Bolsa S.A. de C.V., Grupo Financiero Scotiabank Inverlat; Scotia Inverlat Derivados S.A. de C.V., Grupo Financiero Scotiabank Inverlat; Scotia Waterous Inc.; among others. These businesses and the corporations which provide them (including various other subsidiaries) are collectively referred to as "Scotiabank" in this site. Not all products and services mentioned in this site are provided by each of these corporations; the products and services are provided by the corporation which is authorized by law to provide the product and service. These corporations are all members of the Scotiabank Group (and authorized users of the Scotiabank trademark).
3. Information in this site regarding services and products of Scotiabank is applicable only in jurisdictions where such services and products may lawfully be offered for sale and is void where prohibited by law. If you access this site from outside of Canada, you are responsible for compliance with local, national and international laws. Not all products and services are available across Canada or in all countries. You may not be able to deal directly with all of the corporations represented by Scotiabank. All Scotiabank products and services are subject to the terms of applicable agreements. Descriptions of Scotiabank products and services in this site may include accompanying legal disclaimers, restrictions and disclosures of importance. You are deemed to have notice of them regardless of your use or down loading of only a part of this site.
4. This site is established solely for the exchange of information. It may not be used to place, buy or sell orders for securities or commodities, or to give instructions regarding accounts maintained by any user with Scotiabank. For information regarding your existing accounts, contact your relationship manager.
5. Use of this site is not intended and shall be deemed not to create any legal relationship of whatsoever kind between the user and Scotiabank or to amend or vary any existing legal relationship.
6. This site, including the facts, data, information and other contents contained in it, is not intended to be:
(a) a comprehensive or detailed statement concerning the matters addressed;
(b) investment, tax, banking, accounting, legal, or other professional or expert advice;
(c) an offer to sell or buy or a recommendation to buy or sell any stock, bond or other financial instrument,
and every user of this site is advised to seek professional advice before acting or omitting to act on any part of the site.
7. This site may include forward-looking statements about objectives, strategies and expected financial results of members of the Scotiabank Group. Such forward-looking statements are inherently subject to uncertainties beyond the control of the members of the Scotiabank Group, including but not limited to economic and financial conditions globally, regulatory development in Canada and elsewhere, technological developments and competition. The reader is cautioned that the member's actual performance could differ materially from such forward-looking statements.
8. Scotiabank and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts mentioned in this site as principal or agent. Scotiabank and/or its affiliates may have acted as financial advisor and/or underwriter for certain of the corporations mentioned in this site and may have received and may receive remuneration for same.
9. Although Scotiabank believes the content of this site to be correct, it makes no warranty or representation as to the correctness or completeness of such information. Information in this site is subject to change without notice. Scotiabank does not, and does not intend to, and expressly disclaims any duty to, update or correct information on this site.
10. World wide web sites accessed by hypertext links ("hyperlinks") appearing in this site have been independently developed by parties other than Scotiabank, and Scotiabank has no control over information in any hyperlinked site. Scotiabank is providing hyperlinks to users of this site only as a convenience. Scotiabank makes no representation and is not responsible for the quality, content or reliability of any information in any hyperlinked site. The inclusion of any hyperlink in this site should not be construed as an endorsement by Scotiabank of the information in such hyperlinked site and does not imply that Scotiabank has investigated, verified or monitored the information in any such hyperlinked site. Should you wish to inquire about creating a link from your world wide web site to this site, or about the use of the names of members of the Scotiabank Group, contact Scotiabank’s Global Banking and Markets Marketing Department by email for written authorization. The listing of an organization in this site should not be construed as an endorsement of its services or products.
11. The reference to any independent organization should not be construed as an endorsement by Scotiabank of such organization's services or products.
12. Reuters and other "feed" services are not related to and are independent of Scotiabank. Scotiabank is providing information from Reuters and other "feed" services to you as a convenience. Scotiabank did not investigate or verify any such information and the inclusion of any such information does not imply that Scotiabank endorses it. Scotiabank makes no representation as to the accuracy of such information.
13. Reuters content is the intellectual property of Reuters Limited. Any copying, republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. Reuters, the Reuters Dotted Logo and the Sphere Logo are registered trademarks of the Reuters group of companies around the world. To the extent permitted by law, Scotiabank shall not be liable for any damages suffered or incurred by the user of this site or any third person arising out of any faults, interruptions or delays in the Scotiabank site or the Reuters Services and any inaccuracies, errors or omissions in the Scotiabank and Reuters content. Except as expressly stated in this site, there are no warranties, conditions, guarantees or representations (in this paragraph called "Warranties") as to merchantability, fitness for a particular purpose or other warranties, whether express or implied, in law or in fact, oral or in writing. All software is provided "as is" without any representations or Warranties. Each user hereby acknowledges that it has not relied upon any representations or Warranties of Scotiabank or Reuters Information Services (Canada) Limited.
14. This site is not a secure medium for communication. Any confidential, proprietary, or sensitive information transmitted by a user by means of this site may be read and copied by unauthorized persons.
15. Copyright in the content of this site, including the screens displaying the pages and their arrangement, is owned by The Bank of Nova Scotia unless otherwise indicated. All rights reserved. Users of this site may copy this site for their own personal use but without the prior written permission of Scotiabank may not republish or reproduce any substantial part of this site in any manner whatever, including electronically reproducing this site by "uploading", "downloading" or "accessing" this site onto the Internet or any other local or international computer system, and any such unauthorized use constitutes copyright infringement. Any report included in this site may not be reproduced in whole or in part, or referred to in any manner whatsoever, nor may the information, opinions, and conclusions contained in it be referred to without in each case the prior express consent of Scotiabank. Use of any software downloaded from this site is governed by the terms of any license agreement provided with that software.
16. The display of trademarks in this site does not imply that a license of any kind has been granted. All service and product names are trademarks of their respective owners. The Bank of Nova Scotia is the owner of the Canadian trademarks Scotiabank Flying S design mark; ScotiaMocatta; Scotiabank and Scotia, and has additional trademarks and service marks in Canada and other countries, designated by the symbols ® and ™ or * for registered and unregistered marks respectively. Scotia Capital Inc. ("SCI"), Scotia Capital (USA) Inc. ("SCUSA"), Scotiabank Europe plc, Scotiabank Inverlat S.A., Institución de Banca Múltiple Grupo, Financiero Scotiabank Inverlat; Scotia Inverlat Casa de Bolsa S.A. de C.V., Grupo Financiero Scotiabank Inverlat and Scotia Inverlat Derivados S.A. de C.V., Grupo Financiero Scotiabank Inverlat; are authorized users of the Scotiabank and Flying S design mark. The ScotiaMocatta trademark is used in association with the precious and base metals businesses of The Bank of Nova Scotia.
17. Canadian laws apply to this site and to the use of this site by any user, notwithstanding the domicile, residence or physical location of the user. The user of this site submits and attorns to the exclusive jurisdiction of the courts of the Province of Ontario to determine any proceeding arising out of the use of this site.
18. Scotia Capital Inc. (Member–Canadian Investor Protection Fund) is authorised and regulated by the Investment Industry Regulatory Organisation of Canada (IIROC).
19. U.S. Residents: Scotia Capital (USA) Inc. is a wholly owned subsidiary of Scotia Capital Inc. Scotia Capital (USA) Inc. is a registered broker-dealer with the SEC and is a member of FINRA, the NYSE and SIPC. Any U.S. person wishing further information or to effect transactions in any security discussed herein should contact Scotia Capital (USA) Inc. at (212) 225-5000.
Gender Pay Gap Reporting
UK Policy Information
Note: Modern Slavery Statements for The Bank of Nova Scotia, London branch and Scotiabank Europe plc prior to 2018 are available from the Company Secretary, Scotiabank Europe plc, 201 Bishopsgate, London EC2M 3NS upon request.
Industry Codes Disclosures
MiFID II - Top 5 Execution Venue Reports
MiFID II - Quality of Execution Reports
MiFID II - Systematic Internaliser
UK Tax Strategy
Central Securities Depositories Regulation (CSDR)
In the United States, Scotiabank has been operating for over 100 years and serves clients through teams of Relationship Managers and Product Specialists working together to offer multi-product solutions to clients' financial needs. In addition to our strong Corporate Banking experience, we offer an expanded U.S. equities platform and Global Fixed Income platform. We also have Primary Dealer status in several key countries including the U.S. Scotiabank's offices in the U.S. do not provide retail or consumer deposit, account, or cash services and cannot assist with account inquires or servicing needs of retail accounts held in other countries.
Scotia Capital Inc. (USA) Policies & Disclosures
At Scotia Capital (USA) Inc. (“SCUSA”), our top priority is to provide our customers and their representatives with transparency on our business practices. The following letter contains information regarding our order handling practices and terms of dealing as well as certain important disclosures related to SCUSA and the services we provide to our customers.
SEC Rule 606: Quarterly Report on Routing of Customer Orders
U.S. Securities and Exchange Commission ("SEC") Rule 606 (formerly Rule 11Ac1-6) of Regulation NMS requires all brokerage firms to make publicly available quarterly reports that provide an overview of their order routing practices in covered equity and options securities. SCUSA is publishing statistical information about its routing practices for non-directed orders in U.S. exchange-listed equity securities and options (“Rule 606 Report”).
The Rule 606 Report is divided into four sections. Section 1 is for securities listed on the New York Stock Exchange; section 2 is for securities listed on the Nasdaq Stock Market; section three is for securities listed on the American Stock Exchange or regional exchanges; and, section four is for exchange–listed options.
For more information regarding Rule 606 you may visit the SEC website at www.sec.gov or by clicking on the following link to interpretative frequently asked questions about SEC Rule 606: http://www.sec.gov/interps/legal/mrslb13a.html.
The information and data provided herein (the "Reports") are the property of Scotia Capital (USA) Inc. ("SCUSA") and cannot be redistributed in any form or manner without the prior written consent of SCUSA. SCUSA has prepared the Reports solely for informational purposes and consistent with Rule 606 (formerly Rule 11Ac1-6) under Regulation NMS. The information provided in the Reports is not intended to, and does not, encompass all the factors to be considered in a best execution analysis and related order routing determinations.
SCUSA does not represent, warrant, or guarantee that the Reports are accurate. Use of the Reports is strictly voluntary and does not create in SCUSA any duty to any person reviewing the Reports. SCUSA shall not be liable for any direct, indirect, punitive, special, consequential, or incidental damages related to the Reports or the use of the Reports. The information provided in the Reports may be impacted by market data system outages or errors, both internal and external, and it is dependent upon the integrity and accuracy of data provided by outside sources. Certain assumptions have been made in preparing the Reports, and changes to the assumptions may have a material impact on results. The Reports do not endorse or recommend any particular security or market participant.
Scotia Capital (USA) Inc., is a member of the Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.
Scotia Capital USA Inc., is regulated in the United States by the Financial Industry Regulatory Authority (FINRA). More information can be found at www.finra.org.