The Bank of Nova Scotia, through both its Canadian headquarters, and its New York agency, has executed what amounts to a Consent Agreement with the New York branch of the Federal Reserve Bank, and the New York State Department of Financial Services (DFS), to correct deficiencies in the bank's BSA/AML compliance program, Customer Due Diligence. OFAC compliance, and SAR monitoring and reporting.
Readers who wish to review the complete text of the Agreement, can access it here*. Unlike most other agreements with the Fed and NYDFS, there was no monetary penalty levied upon the bank.
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*http://www.federalreserve.gov/newsevents/press/enforcement/enf20151110a1.pdf
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