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Scotiabank provides a variety of financial products and services through its banking, trust, securities and insurance operations in some 50 countries around the world. Consequently, the Bank is subject to and must comply with a broad variety of regulations vigorously enforced by numerous governments, regulators and self-regulating bodies.
In many cases, Scotiabank must not only comply with applicable regulations, but also satisfy regulators that the Bank has established and documented policies, practices, procedures and systems to ensure ongoing compliance. New legislation, such as the Sarbanes-Oxley Act, reflects increasing public interest in corporate accountability and governance, driving a need for all financial institutions to continually review and enhance compliance risk management processes.
One of the Bank’s key objectives is to maintain best practices in corporate governance and compliance processes. In the face of an increasingly complex regulatory environment around the world, sound and effective corporate governance and compliance risk management are essential to the Bank’s long-term success.
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