Market Regulation Services Inc.

Market Regulation Services Inc.

April 07, 2006 10:33 ET

CIBC World Markets Traders Agree to Fines of C$150,000 and C$75,000 Plus Costs for Acting Contrary to the Just and Equitable Principles of Trade

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 7, 2006) - On Tuesday, April 4, 2006, a Market Regulation Services Inc. Hearing Panel approved a settlement agreement involving Margaret Alice Coleman and Judy Gail Koochin, both of CIBC World Markets Inc. of Calgary, Alberta, regarding orders each entered on the TSX Venture Exchange to purchase shares in Caribou Resources Corp. between June 24 and September 30, 2004. Coleman and Koochin agreed in the settlement that they reasonably ought to have known that the entry of the orders reasonably could be expected to create an artificial price for Caribou shares and that they, as a result, acted contrary to the just and equitable principles of trade under Universal Market Integrity Rule 2.1. Coleman was fined $150,000 and $13,250 in costs. Koochin was fined $75,000 and $6,562.50 in costs. Both individuals will be subject to strict supervision for a period of six months for their trades entered on Canadian equity markets.

The details of the Settlement Agreement may be accessed at www.rs.ca.

About Market Regulation Services Inc. (RS)

RS is the independent regulation services provider for Canadian equity marketplaces, including TSX, TSX Venture Exchange, Canadian Trading and Quotation System, Bloomberg Tradebook Canada Company, Liquidnet Canada Inc. and Markets Securities Inc. RS is recognized by the securities commissions of British Columbia, Alberta, Manitoba, Ontario and by the Autorite des marches financiers in Quebec to regulate the trading of securities on these marketplaces by participant firms and their trading and sales staff. RS helps protect investors and ensure market integrity by ensuring all equities transactions are executed properly, fairly and in compliance with trading rules.

Contact Information

  • Media contact:
    Gerry Halischuk
    Vice President, Market Regulation, Western Region
    Market Regulation Services Inc. (RS)
    (604) 643-6529
    gerry.halischuk@rs.ca