A Market Regulation Services Inc. hearing panel in Vancouver has approved a settlement agreement involving two traders from the Calgary office of CIBC World Markets Inc.

Margaret AliceColeman and Judy Gail Koochin each entered orders to purchase shares in Caribou Resources Corp. on the TSX Venture Exchange between June 24 and Sept. 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.

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.