In its quarterly Securities and Exchange Commission 10-Q filing, CBOE Holdings Inc. (NASDAQ:CBOE) disclosed that it expects to be fined as high?$10 million to end a review by federal authorities into its self-regulatory efforts, reported Reuters.?
In addition, it also noted in the May 7 filing that it in a settlement with the agency, it will necessitate an increase in its compliance and regulatory programs efforts. SEC Commissioners have final approval for a settlement.?
CBOE has been in settlement talks with the SEC regarding its participation as a “front-line overseer of Chicago brokerage OptionsXpress, now owned by?Charles Schwab?Corp.,” according to Reuters. ?
The exchange said in its filing, “We believe that any resolution of this matter will include a monetary penalty and will require?CBOE?to make additional changes to its compliance and regulatory programs and procedures.”?
CBOE has not commented on this language from its filing.