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Comment: Leading US options clearinghouse continues to draw regulatory fire for lax management

By Neil Roland ( March 6, 2023, 17:29 GMT | Comment) -- Options Clearing Corp.’s $22 million regulatory fine last month shows that the main clearinghouse for US stock-options trading is still struggling to fix all the legal, compliance and management problems that have vexed it for a decade. The penalty was imposed as the Chicago-based clearinghouse overhauls its 20-year-old technology and transfers core functions to the cloud in a long-term effort to upgrade clearing and risk management by 2025. Options Clearing has repeatedly run afoul of the Securities and Exchange Commission and the Commodity Futures Trading Commission — incurring two fines and two critical examination letters — dating to 2013.Options Clearing Corp.’s $22 million regulatory fine last month shows that the main clearinghouse for US stock-options trading is still struggling to fix all the legal, compliance and management problems that have vexed it for a decade....

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