CIBC World Markets Corp. (CRD #630, New York, New York) received a censure and fine of $26,000. They were also ordered to pay $4,259.25, plus interest, in restitution to investors. According to the regulators, the firm executed short-sale orders in certain securities, failed to make an affirmative determination prior to executing transactions and improperly reported transactions to ACT that it was not required to report. Additionally, the findings stated that the firm failed to immediately display customer limit orders in its public quotation when each order was at a price that would have improved the firmís bid or offer or when the order was priced equal to its bid or offer and the national bid or offer for each security and the size of the order represented more than a de minimis change in relation to the size associated with the firmís bid or offer in each security. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS000183)
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