SEC Will Bar CBOT Ex-Members From IPO: Report

Law360, New York (January 14, 2008, 12:00 AM EST) -- The U.S. Securities and Exchange Commission will side with the Chicago Board Options Exchange when it rules on whether former Chicago Board of Trade members have the right to some of the profits from CBOE's planned initial public offering, according to reports.

The SEC will hold a meeting on Wednesday during which regulators will propose a rule change that would bar CBOT members from becoming owners in CBOE when it goes public, Bloomberg News said on Friday, citing two sources familiar with the situation.

The Board...
To view the full article, register now.