Defendant Name: Chicago Board Options Exchange, Incorporated

Defendant Type: Subsidiary of Public Company

Document Reference: 2013-107

Document Details

Legal Case Name In the Matter of Chicago Board Options Exchange, Incorporated and C2 Options Exchange, Incorporated
Document Name SEC Charges CBOE for Regulatory Failures
Document Date 11-Jun-2013
Document Format Administrative Proceeding
File Number 3-15353
Allegation Type Securities Offering
Document Summary On June 11, 2013, the SEC announced that it "charged the Chicago Board Options Exchange (CBOE) and an affiliate for various systemic breakdowns in their regulatory and compliance functions as a self-regulatory organization, including a failure to enforce or even fully comprehend rules to prevent abusive short selling."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Various undertakings
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC

Related Documents:

34-69726 11-Jun-2013 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 19(h)(1) and 21C of the Securities Exchange Act of 1934, Making Findings and Imposing Sanctions and a Cease-and-Desist Order
On June 11, 2013, the SEC instituted settled cease-and-desist proceedings against Chicago Board Options Exchange, Incorporated and C2 Options Exchange, Incorporated. According to the SEC: "The Chicago Board Options Exchange ('CBOE' or the 'Exchange') failed to fulfill its fundamental responsibilities as an SRO and exchange. CBOE's failures were not mere oversights or technical violations, but a systemic breakdown in several of its regulatory and compliance responsibilities as an exchange. Not only did it fail to enforce the Commission's rules by not adequately investigating a member firm's compliance with Regulation SHO of the Exchange Act ('Reg. SHO'), CBOE's conduct also interfered with the Commission's Division of Enforcement ('Enforcement Division') staff's Reg. SHO investigation of the same member firm."

Other Defendants in Action:

C2 Options Exchange, Incorporated