Reuters: Regulatory News: CBOE beefs up regulatory team amid SEC probe

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CBOE beefs up regulatory team amid SEC probe Apr 27th 2012, 15:56 CHICAGO, April 27 | Fri Apr 27, 2012 11:56am EDT CHICAGO, April 27 (Reuters) - CBOE Holdings Inc is beefing up its self-policing team amid a Securities and Exchange Commission probe into its self-regulatory compliance, appointing a deputy chief regulatory officer to oversee internal controls and surveillance. Margaret Williams, who was promoted to the new role on Friday, was most recently vice president of CBOE's regulatory services division, and will take on the new responsibilities in addition to her old job, a CBOE spokesman said. She will continue to report to Timothy Thompson, CBOE's chief regulatory officer. CBOE runs the biggest U.S. stock options exchange, the Chicago Board Options Exchange, as well as a second, smaller electronic stock-options exchange and a small futures market. Two compliance officials left the exchange operator last month in the wake of CBOE's disclosure of the SEC investigation: Patrick Fay, senior vice-president of member and regulatory services, and Linda Gerdes, head of market regulation. CBOE has provided little detail about the probe, saying only that it is cooperating with SEC's ongoing investigation into CBOE's compliance with its obligations as a self-regulatory organization under federal securities laws, and is conducting its own review of its compliance. It has not commented on whether the departures are related to the probe. Williams' role will include training of exchange regulatory staff, establishing and monitoring internal controls for the regulatory services division, and managing development requirements for exchange surveillance systems, the company said. Link this Share this Digg this Email Reprints

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