AMEX, SEC Close To Settlement: Sources

Law360, New York (November 22, 2006, 12:00 AM EST) -- A U.S. Securities and Exchange Commission probe into options trading violations at the American Stock Exchange may soon come to an end, although for two AMEX executives, the legal battle may be just beginning.

AMEX is close to settling the SEC investigation into regulatory failures at the exchange, sources close to the investigation told the Wall Street Journal. But the decision to settle is not unanimous, sources say, with two former executives resisting the deal.

Former AMEX CEO Salvatore Sodano and former General Counsel Michael Ryan...
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