CBOE And C2 Enter Into Agreements With FINRA Involving Regulatory Services
Today, December 22,?CBOE Holdings, Inc. announced that Chicago Board Options Exchange?(CBOE) and C2 Options Exchange (C2) have entered into an agreement with the Financial Industry Regulatory Authority (FINRA), under which FINRA will perform the majority of the exchanges’ regulatory services.
Additionally, CBOE entered into a separate agreement with FINRA, under which CBOE will assign to FINRA its responsibility to perform regulatory services for the Options Regulatory Surveillance Authority (ORSA), the central organization facilitating collaboration in insider trading surveillance and investigations for all U.S. options exchanges.
FINRA will begin to perform all of these services on January 1, 2015.
Regulation of CBOE Futures Exchange (CFE?) will continue to be provided by CFE Regulatory Services staff.
The vast majority of CBOE’s and C2’s Regulatory Services Division, ORSA staff and Systems Development Department staff who support options regulation — about 125 employees in total ? have accepted positions with FINRA.
CBOE and C2 will continue to be responsible for the regulation of their markets and will maintain an in-house regulatory team to manage CBOE and C2 regulatory surveillance programs and to oversee the FINRA regulatory services relationship.
Tim Thompson, CBOE Senior Vice President and Chief Regulatory Officer, will be moving to FINRA as a Senior Vice President. CBOE Vice President and Deputy Chief Regulatory Officer Greg Hoogasian will succeed Thompson and be named CBOE Chief Regulatory Officer.
For more information, please visit:?cboe.com