Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Fund Probe Goes International Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, January 28, 2004

Fund Probe Goes International

by: Nicole Halsey

The SEC and the New York Attorney General's office are considering filing a lawsuit against the Canadian Imperial Bank of Commerce which both agencies suspect of financing investors who were involved in late trading, sources told the New York Times.

A representative said the bank is cooperating with the probe. The SEC and Spitzer's office are reportedly considering filing suits in the next few weeks. Sources also told the Times that the suits might name executives who were allegedly aware of the activity.

Regulators suspect that CIBC financed hedge funds eager to increase their mutual fund holdings primarily through the use of derviatives. They also suspect that the firm financed trades placed after the markets closed, late trading.

Last month, the bank paid the SEC $80 million over its financial dealings with Enron Corp. Accordign to the settlement, the bank's deals with Enron the company to hide debt and inflate its profit by more than $1 billion and its operating cash flow by almost $2 billion. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use