Personal-Trading Probe Led to Firing of Two Scotiabank Analysts

Two brothers are taking Bank of Nova Scotia to court after they were terminated from their stock-analyst jobs in 2024, firings that ultimately led to the dismissal of three compliance employees as well, according to court documents and people with knowledge of the matter.

In a trial set for next year, the brothers Michael Doumet and George Doumet are fighting Scotiabank over allegations they breached the bank’s personal-trading policy. They claim in a lawsuit against the bank that they were unjustly dismissed and subject to “cavalier” treatment by the company.

The brothers’ departures were months in the making after a ...