The Canadian Imperial Bank of Commerce will pay $125 million to settle regulators' charges of improper trading, authorities said Wednesday. The payment is part of an agreement the Toronto-based bank reached with the SEC and New York Attorney General Eliot Spitzer. The company also agreed to reform its practices. In a complaint filed against CIBC, authorities said the bank provided brokerage services and more than $1.3 billion in financing to hedge funds engaged in "market timing" strategies.
July 21, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The Canadian Imperial Bank of Commerce will pay $125 million to settle regulators’ charges of improper trading that hurt ordinary shareholders, authorities said Wednesday.
The payment, which includes $100 million in restitution and $25 million in penalties, is part of an agreement the Toronto-based bank reached with the Securities and Exchange Commission and the office of New York Attorney General Eliot Spitzer.
Presented by BigVoodoo
The premier educational and networking event for employee benefits brokers and agents.
The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania and Delaware.
Consulting Magazine recognizes leaders in technology across three categories Leadership, Client Service and Innovation.
Shipman is seeking an associate to join our Labor & Employment practice in our Hartford, New Haven, or Stamford office. Candidates shou...
Evergreen Trading is a media investment firm headquartered in NYC. We help brands achieve their goals by leveraging their unwanted assets to...
Duane Morris seeks an associate with 3-4 years of experience to join its Employee Benefits and Executive Compensation Group in its Philadelp...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
