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CIBC World Markets Corp.

CIBC World Markets Corp. (CRD #630, New York, New York) received a censure and fine of $30,000. According to the findings, the firm, while acting as a registered market maker in securities, failed to execute orders presented to the firm at its published bid or published offer in an amount up to its published quotation size upon presentment, and thereby failed to honor its published quotation. Additionally, the firm locked/crossed the market during the pre-opening market period and failed to send immediately thereafter a Trade-or-Move message through SelectNet(r) to the market participant whose quote it locked or crossed that was priced at the receiving market participant's quoted price, and/or failed to send a Trade-or-Move message through SelectNet with an aggregate size of at least 5,000 shares to all market participants whose quotes it locked/crossed. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS020146)

Did CIBC World Markets Corp. manage your investments?

 

 

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