SEC Approves Amendment to Options-Related Regulatory Allocation Plan
The amendment binds Cboe BZX, BOX, Cboe, C2, ISE, FINRA, MIAX, Nasdaq, NYSE American, NYSE Arca, PHLX, GEMX, EDGX, MRX, MIAX PEARL, MIAX Emerald, MIAX Sapphire, MEMX, MX2 and IEX on August 25, 2026.
On August 25, 2026, the Securities and Exchange Commission issued Order No. 34-106186, File No. S7-966 (FR Doc No. 2026-17548), approving and declaring effective an amendment to the plan for allocating regulatory responsibilities filed on August 5, 2026 under Rule 17d-2.
The amendment revises the allocation of regulatory duties among the participating organizations - Cboe BZX Exchange, Inc.; BOX Exchange, LLC; Cboe Exchange, Inc.; Cboe C2 Exchange, Inc.; Nasdaq ISE, LLC; Financial Industry Regulatory Authority, Inc.; Miami International Securities Exchange, LLC; The Nasdaq Stock Market LLC; Nasdaq Texas LLC; NYSE American LLC; NYSE Arca, Inc.; Nasdaq PHLX LLC; Nasdaq GEMX, LLC; Cboe EDGX Exchange, Inc.; Nasdaq MRX, LLC; MIAX PEARL, LLC; MIAX Emerald, LLC; MIAX Sapphire, LLC; MEMX LLC; MX2 LLC; and Investors Exchange, LLC - concerning options-related sales practice matters.
Under Section 17(d)(1) of the Exchange Act, the Commission may relieve an SRO of certain examination and enforcement functions to avoid duplicate regulatory reviews of common members. Rule 17d-2 permits SROs to submit joint plans that allocate such responsibilities, and the Commission's approval makes the designated allocations binding on the participants.
The plan, first approved on September 8, 1983, has been amended repeatedly to reflect new participants and market developments. The current amendment updates the allocation framework to reflect the latest roster of exchanges and to ensure coordinated oversight of options-related sales practices.
The amendment is effective immediately and governs the designated examining authority responsibilities for all listed participants.
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