Global Banking and Markets Legal

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.

To view SCUSA’s SEC Rule 606 Reports on Routing of Customer Orders, click on the following link: http://vrs.vista-one-solutions.com/sec606rule.aspx.

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.htm.



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


Regulatory Disclosures