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Corporate Restructuring :
Active Cases
: CIBC Fair Fund Settlement Fund
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CIBC Fair Fund Settlement Fund
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Welcome to the CIBC Fair Fund Settlement Information Website
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This informational website has been created to assist the managers of affected funds in their understanding of the Canadian Imperial Holdings, Inc. and CIBC World Markets Corp. (collectively "CIBC") settlement with the United States Securities and Exchange Commission (the “Commission”), Administrative Proceeding File No [3-11987], dated July 20, 2005 (the “Order”).
On July 20, 2005, in the above-captioned matter, the Commission issued an Order instituting and simultaneously settling public administrative and cease-and-desist proceedings against CIBC. In the Order, the Commission authorized and established a Fair Fund, comprised of disgorgement and penalties paid by CIBC, for distribution to investors injured by market timing in certain mutual funds pursuant to the Distribution Plan (the "Plan") developed by the Independent Distribution Consultant, Bernard A. Katz, Partner-In-Charge of J.H. Cohn LLP's Business Investigation Service Group (the "IDC").
The Plan provides for distribution to all affected funds, for the period spanning 1999 through 2003, their proportionate share of the disgorgement and civil penalties paid by CIBC in connection with the Order to compensate investors for injury they may have suffered as a result of market timing in certain CIBC mutual funds (see "List of Affected CIBC Funds" in Related Documents). The aggregated Fair Fund of $125 million. |
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SEC Information: All documents related to this matter are available on the SEC website:
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Fair Fund Administrator: Kurtzman Carson Consultants LLC ("KCC")
If you have any questions about the Fair Fund Plan, you can contact the KCC, Fair Fund Administrator by telephone at 1-888-249-2797 or by email at KCC_CIBC@kccllc.com
Please return any fund contact forms & tax documents to:
Kurtzman Carson Consultants
CIBC Fair Fund Settlement
2335 Alaska Ave.
El Segundo, CA 90245
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Important Dates, Deadlines & Documents: |
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| Fund Ceritification Letter |
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