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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
RESPONDENT COMMISSION EXCHANGE ACT PURSUANT UNDERTAKING SECURITIES PROCEEDING MULTIPLE LISTING MARKET STOCK EXCHANGE COMPLIANCE FINDINGS SETTLEMENT MEMBERS TRADE REPORTING SURVEILLANCE JOINT PLAN ENFORCEMENT ADMINISTRATIVE PROCEEDINGS REMEDIAL SANCTIONS CHICAGO BOARD OPTIONS PHILADELPHIA STOCK EXCHANGE COMPETITION ENFORCE COMPLIANCE SURVEILLANCE SYSTEMS COMMISSION STAFF RULE AMENDMENTS STOCK EXCHANGE LLC PACIFIC EXCHANGE |
UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
Securities Exchange Act of 1934
Release No. 43268 / September 11, 2000
Administrative Proceeding
File No. 3-10282
In the Matter of
CERTAIN ACTIVITIES OF
OPTIONS EXCHANGES
Respondent.
ORDER INSTITUTING
PUBLIC ADMINISTRATIVE
PROCEEDINGS
PURSUANT TO SECTION
19(h)(1) OF THE
SECURITIES EXCHANGE
ACT OF 1934, MAKING
FINDINGS AND IMPOSING
REMEDIAL SANCTIONS
I.
The Securities and Exchange Commission ("Commission") deems it
appropriate, in the public interest, and for the protection of
investors that public administrative proceedings be instituted
pursuant to Section 19(h)(1) of the Securities Exchange Act of 1934
("Exchange Act") against respondents American Stock Exchange LLC,
Chicago Board Options Exchange, Inc., Pacific Exchange, Inc. and
Philadelphia Stock Exchange, Inc. In anticipation of this proceeding,
the respondents have submitted Offers of Settlement which the
Commission has determined to accept. Solely for the purposes of this
proceeding and any other proceeding brought by or on behalf of the
Commission or to which the Commission is a party, and prior to a
hearing pursuant to the Commission's Rules of Practice, 17 C.F.R. '
201.100 et seq., the respondents, by their Offers of Settlement,
without admitting or denying the Commission's findings except
those contained in Section III. A. below, which are admitted, consent
to the entry of this Order Instituting Public Administrative
Proceedings, Making Findings and Imposing Remedial Sanctions.
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