In a settlement with Canadian and U.S. regulators, including the Securities and Exchange Commission, Canadian Imperial Bank of Commerce (CIBC) will be precluded for the next three years from using its ABCP conduits to finance "off-balance sheet" assets for its clients.

The settlement is tied to none other than evildoer extraordinaire Enron Corp., which was able to tangle up a hosts of its risks and liabilities though complex structures allegedly enabled, in part, by CIBC and its structured finance businesses.

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