CIRO fines former CBIC dealer for client loans breaching conflict rules [Wealth Professional (Canada)]
Canadian Imperial Bank of Commerce (CM)
Last canadian imperial bank of commerce earnings: 2/26 05:53 am
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Source: Wealth Professional
Borrowing less than $14,000 from clients has cost an Edmonton dealing representative $17,500 and a misconduct finding for failing to manage conflicts of interest. A Canadian Investment Regulatory Organization (CIRO) Hearing Panel accepted a Settlement Agreement with former CIBC Securities Inc. dealing representative Ankit Pravinkumar Thakkar on December 5, 2025, and released its reasons on December 15, 2025, under Re Thakkar 2025 CIRO 59. Thakkar agreed to pay a $15,000 fine under Mutual Fund Dealer Rule 7.4.1(b) and $2,500 in costs under Mutual Fund Dealer Rule 7.4.2. The Panel found that in December 2021 and October 2023, Thakkar failed to identify, report to the Dealer Member, or otherwise address in the best interests of the client, conflicts of interest when he borrowed money from clients, contrary to MFDA Rule 2.1.4(2) and Mutual Fund Dealer Rule 2.1.5. The loans totalled $3,850 on December 6, 2021, repaid by December 8, 2021, and $10,000 on October 16, 2023, repaid by
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CM
Earnings
- 12/4/25 - Beat
CM
Sec Filings
- 1/12/26 - Form 424B3
- 1/12/26 - Form FWP
- 1/12/26 - Form FWP
- CM's page on the SEC website