Toronto Investment Banker Settles US Insider-Trading Case – Reuters

A former Canadian Imperial Bank of Commerce investment banker has agreed to pay US$340,000 to settle charges brought by U.S. regulators that he illegally traded ahead of a buyout offer for Tomkins Plc based on information he gleaned from his job, reports Reuters. Richard Bruce Moore bought Tomkins ADRs, which trade on the New York Stock Exchange, several weeks before Onex Corp. and Canada Pension Plan Investment Board announced plans in July 2010 to buy the British manufacturing and engineering company.

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