Release Date: December 12, 2011
For immediate release
The Federal Reserve Board on Monday announced the issuance of a Consent Order of Prohibition against Tyrone Green, a former precious metals trader at the New York Agency of the Bank of Nova Scotia, Toronto, Ontario, Canada.
Green, without admitting to any allegations, consented to the issuance of the order, which was based on his alleged participation in violations of law, unsafe and unsound banking practices, and breaches of fiduciary duty that resulted in substantial losses to Bank of Nova Scotia. Green allegedly entered fictitious trades that concealed a significant trading loss and allowed the trading loss to increase substantially without detection.
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