Darrell Zimmerman

Darrell Zimmerman is a Canadian free jazz musician, activist and a former floor trader convicted of wire fraud. The "Zimmerman Rule", named for him, prevents individuals who trade in the Chicago exchanges to profit from trades made over stipulated limits.

Zimmerman ran twice for mayor of Vancouver, both times unsuccessfully.

Early life and education Zimmerman was raised in Vernon, British Columbia. He was inspired to be a broker by an E. F. Hutton television ad, the life of a local successful broker, and Dr. Bruce G. Gould's How to Make Money in Commodities book. He was fired on "Black Monday" (October 19, 1987) when he made risky and unauthorized transactions as the market was crashing; he lost $60,000. His wife, with whom he was arguing that day about his risky transactions, also lost her job at the exchange. #tag:ref|The firm had not researched Zimmerman's history and had been warned by officials at the Chicago Mercantile of Zimmerman's trading history; They were told that Stern & Company could manage the risks. #tag:ref|The transactions are described in "Step 19 – Strike it Rich", "Step 20 – Bollix your math" and "Step 21 – Blow your cover" of Fishman's Busted article.

Zimmerman worked for a short time for Hera Resources, a gold and silver mining company in Canada. He was hired partly to assist with investor relations. He was to have received stock options at Hera, but when the company tried to file the transaction the connection was made by exchange investigators to Zimmerman's Chicago indictment. He was fired immediately from his job.

He was convicted in 1995 of wire fraud for trying to manipulate the market. Zimmerman was arrested in Canada in July 1996, extradited back to the United States, and in September of that year pleaded guilty to two of six counts of wire fraud. He spent two years in jail, serving some time at the Metropolitan Correctional Center.

Zimmerman rule His actions caused the Chicago Board of Trade and all Chicago exchanges to implement what has unofficially been called the "Zimmerman rule" prohibiting traders from profiting after having traded above the limit of their account; The clearing firms are allowed to keep the profits.

In 2011 Zimmerman, resident of the Art Gallery encampment of the Occupy Vancouver Movement, tried to steal the Vancouver's City Hall's portrait of Christy Clark, the Premier of British Columbia. He was arrested and charged with theft, but was released after promising to stay out of City Hall. Having caused a disturbance, Zimmerman was removed from the event.

Musical career He appeared on the album Bandas de la Portales with Andres Motta and Gabriel Lauber issued by Jazzorca Records. Zimmerman played with Remi Alvarez, Hernan Hecht, Carlos Alegre, German Bringas, Itzam Cano, and Gabriel Lauber on the 2007 Free Radical Jazz. It was recorded live at Cafe Jazzorca by Jazzorca Records.

Zimmerman plays the saxophone and trumpet. After two years in Mexico he returned to Vancouver.

Electoral record