[2] On 28 July 2010 it was reported that Pacific Equity Partners would acquire CIBC Mellon Trust Company's issuer services business (stock transfer and employee share purchase plan).
[11][12] On October 8, 2009, CIBC Mellon announced the acquisition of the unitholder recordkeeping and fund administration business of Felcom Data Services Inc., a wholly owned subsidiary of Jovian Capital Corporation, for a purchase price of approximately C$4.2 million.
While both CMTC and CMGSS physically occupy the same space, and in essence operate as one company, each has a separate board of directors which overlap the other.
It was alleged by the SEC, in the subsequent investigation, that Mr Jiwan knew that the securities were not registered, but agreed to act as the transfer agent (in order to issue the stock certificates) in return for 820,000 Pay Pop shares.
Pursuant to the order, CMTC was censured and agreed to an undertaking to engage an independent consultant to review its relevant businesses and procedures.
[19] In 2004, a long-term employee of CIBC Mellon was terminated, after it had been discovered that they had been disclosing institutional holdings in certain companies to unidentified parties in return for gifts.
It was reported that the employee had received hockey and baseball tickets as well as up to $100 in cash for tips on big investors who owned specific stocks.