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
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: