3 Top Amex Executives Could Face Civil Charges
From Reuters
Market regulators warned three top executives of the American Stock Exchange of possible civil charges against them over a probe related to the handling of options orders, the exchange said Thursday.
The executives, including Amex Chairman and Chief Executive Salvatore Sodano, received so-called Wells notices from the Securities and Exchange Commission, which allow recipients to explain why the agency should not file civil charges against them.
The notices stem from the SEC’s investigation into the exchange’s regulatory program related to the handling of options orders, Amex said.
The other two executives who received the notices were President Peter Quick and General Counsel Michael Ryan Jr.
An SEC spokesman declined to comment.
