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NYSE Regulation fines CIBC World Markets, Nandra Group

NYSE Regulation fines CIBC World Markets, Nandra Group

NYSE Regulation Inc. said it fined CIBC World Markets Inc. $200,000 (euro157,220) for making below-market loans to Nandra Group Inc. in June 2003.
NYSE Regulation, the regulatory arm of the New York Stock Exchange, said CIBC's supervision of its stock loan business failed to detect traders from engaging in below-market transactions and entering incomplete and inaccurate stock loan transaction terms on its books and records. New York-based Nandra was fined $75,000. (euro58,958)
Neither firm admitted or denied the charges.
Toronto-based CIBC World Markets is the investment banking and brokerage unit of Canadian Imperial Bank of Commerce.


Updated : 2021-05-07 19:03 GMT+08:00