Related Documents:
34-66831
19-Apr-2012
Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 and Section 9(b) of the Investment Company Act of 1940 and Notice of Hearing
On April 19, 2012, the SEC instituted an administrative proceeding against OX Trading, LLC, optionsXpress, Inc., and Thomas E. Stern. According to the SEC, OX Trading violated securities laws by trading in securities despite the fact that they "ceased being a member of CBOE" on March 2, 2009. Furthermore, it is alleged that "Stern and optionsXpress caused and willfully aided and abetted OX Trading's violations of Sections 15(a) and 15(b)(8) of the Exchange Act."
2012-68
19-Apr-2012
Press Release--Administrative Proceeding
SEC Charges OX Trading, optionsXpress, and Former CFO With Registration Violations
On April 19, 2012, the SEC announced in a Press Release that: "The Securities and Exchange Commission today charged a Chicago-based securities dealer affiliated with online brokerage firm optionsXpress with violating the registration provisions of the securities laws when it continued trading operations after delisting from the Chicago Board Options Exchange (CBOE) and deregistering with the SEC, apparently to avoid an audit."
Order on Motion for Partial Summary Disposition
On September 5, 2012, Chief Administrative Law Judge Brenda P. Murray granted the SEC Division of Enforcement's Motion for Partial Summary Disposition. Chief Administrative Law Judge Murray noted that : "The allegations do not involve fraud or harm to customers, but whether a business entity was required to register with the Commission."
Motion to the Commission for Extension
On January 16, 2013, Brenda P. Murray, the Chief Administrative Law Judge, filed a motion to the Commission for extension of "the deadline for an Initial Decision for six months."
Second Motion to the Commission for Extension
On July 1, 2013, Chief Administrative Law Judge Brenda P. Murray requested to the Commission a second extension on the August 19, 2013 due date for the Initial Decision pursuant to Rule 360(a)(3).
34-70130
07-Aug-2013
Commission Order and Opinion
Order Granting Extension
On August 7, 2013, the SEC issued an order extending the deadline for filing the initial decision in this matter to February 19, 2014.
Order on Motion for Change in Procedural Schedule
On September 6, 2013, Murray granted a request to postpone an exchange of information under a prior procedural schedule in which the parties to a April 19, 2012, SEC Order Instituting Administrative and Cease-and-Desist Proceedings agreed "to exchange (i) the names of their witnesses, (ii) the identity of any experts, and (iii) either a list or copies of their exhibits by September 6, 2013."
Order Staying the Proceeding
On September 16, 2013, Chief Administrative Law Judge, Brenda P. Murray, issued an order staying the proceedings pursuant to a September 13, 2013 Joint Motion to Stay the Proceedings for SEC Consideration of Offers of Settlement (Motion) pursuant to Commission's Rule of Practice 161(c)(2). The SEC filed the motion to stay proceedings because "the Division of Enforcement has received signed Offers of Settlement from two Respondents and it expects to receive one from the third Respondent, which it will recommend the Commission accept."
34-70739
22-Oct-2013
Administrative Proceeding
Order Making Findings and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 as to OX Trading, LLC and optionsXpress, Inc.
On October 22, 2013, the SEC filed settled administrative proceedings against OptionXpress, Inc. According to the SEC: "These proceedings arise out of registration violations relating to OX Trading, LLC ('OX Trading'), which, during the relevant period, was a subsidiary of optionsXpress Holdings, Inc. ('Holdings'). OX Trading was formed in 2007 to provide customers of optionsXpress, Inc. ('optionsXpress'), a registered broker-dealer that was also a subsidiary of Holdings, price improvement on their orders via internalization of options trades."
