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The newer suit claims CIBC facilitated the illegal late trading conducted by MFS and helped defraud investors. It spans from 2001 to 2003. Paul Flynn, the former CIBC managing director of equity investment accused of providing financing for hedge funds that engaged in the late trading and timing activities, is named in the suit.
CIBC has yet to file a statement of defense.
Here's how commenters such as the AARP, SIFMA, FSI, the Consumer Federation, NAPFA, the CFP Board and others view the Department of Labor's retirement advice regulation.
In the first three months of 2024, both profits and client assets reached new heights at RayJay's Private Client Group.
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Amid a busy April for big hires, compliance tech provider COMPLY and wealthtech platform TIFIN have brought on industry vets Michael Stanton and Jeannette Kuda, respectively, aiming for strategic growth.
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