An RCMP investigative team today executed a search warrant at the Bank of Nova Scotia corporate headquarters in Toronto to collect evidence in connection with the on-going criminal investigation into the financial activities of Royal Group Technologies Ltd.

The search began involved approximately twenty-five Greater Toronto Area Integrated Market Enforcement Team (IMET) investigators and RCMP civilian operational support personnel.

“The goal of our Integrated Market Enforcement Teams is to ensure that Canada’s capital markets remain among the safest in the world for investors to participate,” said RCMP Superintendent John Sliter, national director of the RCMP Integrated Market Enforcement Branch in Ottawa. “Our commitment is to conduct our investigations as expeditiously as possible. Our integrated and focused approach ensures a more effective and efficient way to help protect Canada’s economy and ultimately the quality of life of our citizens.”

It was the first raid of its kind for the IMET, a fast-response squadron of police, lawyers and other experts who probe capital-markets fraud and market-related crime.

The Toronto IMET was launched in November 2003 and brings together specialized investigative skills from the RCMP and participating agencies. It is currently supported by the Ontario Securities Commission, Investment Dealers Association of Canada, Market Regulation Services Inc., the Mutual Fund Dealers Association of Canada and Department of Justice Canada.

Other teams have also been created in Vancouver, Montreal and Calgary as part of the Government of Canada’s strategy to combat serious capital market fraud in Canada.

In a statement, Scotiabank confirmed that RCMP provided the bank with legal documents authorizing an onsite search of records.

Scotiabank said it has always cooperated with any investigation by legal authorities and will continue to do so.

Royal Group shares were trading 40¢ lower at $10.75, on the Toronto Stock Exchange Tuesday afternoon.