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CFTC imposes $30M fine on Canadian Imperial Bank of Commerce

The CFTC today issued an order simultaneously filing and settling charges with Canadian Imperial Bank of Commerce (CIBC).

Visa and CIBC announced a new collaboration that will enable the bank’s clients to send funds to family and friends across borders more conveniently.

This matter originated from a review of CIBC’s use of the Options Clearing Corporation’s (OCC) options position adjustment process.