09:44 AM EDT, 09/24/2024 (MT Newswires) -- The Commodity Futures Trading Commission on Tuesday issued an order simultaneously filing and settling charges with Canadian Imperial Bank of Commerce ( CM ) (CM.TO, CM), a swap dealer, for failing to maintain and preserve records that were required to be kept under CFTC recordkeeping requirements and failing to diligently supervise matters related to its business as a CFTC registrant.

A statement said the order imposes a $30 million civil monetary penalty; orders CIBC to cease and desist from further violations of recordkeeping and supervision requirements; and orders CIBC to engage in specific remedial undertakings. CIBC also admits the facts detailed in the order.

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