Scotiabank Public Policy and Advocacy Activities

As a central actor in the economic fabric of the communities where we operate, we are aware that the long-term success of our Bank is fundamentally intertwined with the success of those around us. When our communities thrive, we are in a better position to create value for all our stakeholders and follow through on Principle 6 of our Scotiabank Code of Conduct (our “Code”) to honour the commitments in the communities in which we operate.

Part of our role in contributing to strong and resilient communities includes enabling economic prosperity, helping our customers finance growth and important milestones, and being an active participant in advocating for positive social change and sound policy. Through our collaborative work with governments across the jurisdictions in which we operate, we believe Scotiabank contributes to finding solutions to the great challenges of our time as well as to realize new opportunities.  

As a financial institution operating in a highly regulated industry, Scotiabank complies with laws and regulations in the more than 30 international markets where we operate, reporting to hundreds of regulators across our footprint. This means that Scotiabank, our customers, employees, shareholders, and communities can be deeply impacted by changes in financial sector regulations. For this reason, we take interest in being an active and informed participant in public policy discussions affecting our sector. In doing so, we are committed to conducting public policy advocacy transparently, ethically and in accordance with the law.

Scotiabank engages in the public policy process in the following ways:

• Monitor government, legislative and regulatory activity in Canada and in other jurisdictions where we operate to keep informed of upcoming developments in the financial services sector;
• Engage in direct dialogue with policymakers, regulators, and government officials on issues of priority to the bank and financial services industry;
• Provide public submissions to government consultations on key issues to our sector;
• Engage technical expertise from Scotiabank’s diverse teams to inform and educate in the policymaking process;
• Participate in public policy discussions through financial sector and business associations; and,
• Provide support to non-governmental organizations that foster public policy discussions and raise awareness of key issues that align with stated public policy priorities.

At the federal level in Canada, Scotiabank is required to report on its communications with Public Office Holders as outlined in the Lobbying Act. There are also similar regulations and legislation at some provincial and municipal levels. Internally, we have a Policy for Communicating with Canadian Government Officials and Conducting Political Activities which outlines our expectations and requirements for employees who communicate with government officials.

In addition to the Policy for Communicating with Canadian Government Officials and Conducting Political Activities, Scotiabank employees are also subject to other policies such as:

• Scotiabank Code of Conduct
• Scotiabank Anti- Bribery and Anti-Corruption Policy

Further, in communicating with government officials, Scotiabank employees must be mindful of other publicly released documents by the Bank and being consistent with that disclosure. Employees are reminded to speak with Government Affairs and Global Communications, as appropriate, prior to any such engagements that may involve discussions on issues that the Bank has already publicly addressed.