Securities and
Exchange Commission (SEC) has levied the first fine on a US exchange for
failures of regulatory oversight.
The Chicago Board Options Exchange (CBOE) has agreed to pay $6m (£3.8m) to settle the SEC's charges that it failed in its duty to enforce trading rules.
The SEC said CBOE had "various systemic breakdowns" as a self-regulatory organisation.
CBOE said it had implemented actions required or recommended by the SEC.
CBOE is the largest US options exchange. Options offer the right, but not the obligation, to buy or sell stocks or other financial assets in the future.
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