Nine months after regulators fined the Chicago Board OptionsExchange (CBOE) for failing to police its members, the biggest U.S.options market approved a rule aimed at preventing fraud.
Firms trading at the unit of CBOE Holdings Inc. will be requiredto write down how they supervise their businesses, according to aSecurities and Exchange Commission (SEC) filing from theChicago-based options exchange. They must also carry out regularoffice inspections and send CBOE an annual report on regulatorypractices.
Stiffening oversight will help firms trading at the CBOE“prevent fraudulent and manipulative acts and practices and improveinvestor protection,” according to the document, which was postedon the SEC website.
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