SEC Says OptionsXpress Violated Registration Requirements
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OptionsXpress Inc., its former chief financial officer and an affiliated dealer were accused by U.S. regulators of violating securities laws by skirting registration requirements in order to avoid an audit.
OX Trading LLC violated two regulatory requirements by trading through an optionsXpress customer account after ending its membership with the Chicago Board Options Exchange and its SEC brokerage registration, the U.S. Securities and Exchange Commission said in an action filed today in administrative court in Washington. The optionsXpress affiliate was an unregistered dealer from October 2009 to November 2010 and traded without being a member of a national association or exchange beginning in March 2009, the SEC said.