CIBC Paying US$42 Million for US Records-Keeping Violations

CIBC Paying US$42 Million for US Records-Keeping Violations
A CIBC logo is displayed the the lobby of its headquarters in Toronto on Oct. 25, 2021. The Canadian Press/Evan Buhler
The Canadian Press
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CIBC is the latest Canadian bank to face fines for records-keeping violations in the United States.

The Commodity Futures Trading Commission (CFTC) has imposed a US$30-million penalty, while the Securities and Exchange Commission announced charges that have led to a US$12-million penalty against two CIBC divisions.