News Flash- CIBC to Invest $37 Million In Corporate Governance
March 1, 2004
Canadian Imperial Bank of Commerce announced last Monday that it would pour $37 million to reform and educate employees on corporate governance. The funding is, in part, forced by a December settlement with federal regulators stemming from its links to the blown-up accounting practices at Enron.
The company said beside a new mandate that all 37,000 company employees be trained on global reputation and legal risk, a new hotline will be set up in order for the workers to call in with ethics-related questions.
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