# 2025-04325: Cboe Syncs Up Annual Reports: Yawn-Worthy Rule Tweak Goes Live

2025-04325, Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rules 8.16 and 9.2 Related to the Production of an Annual Report From Trading Permit Holders to the Exchange, is a Federal Register notice from Securities and Exchange Commission published 2025-03-18, effective 2025-03-10 (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-04325
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-04325
- Title: Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rules 8.16 and 9.2 Related to the Production of an Annual Report From Trading Permit Holders to the Exchange
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 12607
- Published: 2025-03-18
- Effective: 2025-03-10
- Comments close: not stated
- Significant: no
- Touches household money: no
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

Cboe Syncs Up Annual Reports: Yawn-Worthy Rule Tweak Goes Live

## Summary

Cboe Exchange is updating its rules to make Trading Permit Holders submit an annual report, matching similar rules from FINRA and NYSE. This change affects traders with permits on Cboe and takes effect immediately, with no big costs or delays involved. It’s a smooth move to keep everyone on the same page and the market running clean.

## Effects PRIA read

- Annual Report Requirement for TPHs: cost, low. If you are a Trading Permit Holder (TPH) on Cboe, the Exchange amended Rules 8.16 and 9.2 to require TPHs to produce and submit an annual supervisory report to the Exchange. The rule filing was made on March 10, 2025 and the Commission designated the change to be operative upon filing.
- Harmonizes Reporting with FINRA/NYSE: benefit, low. The amendments align Cboe's supervisory reporting with FINRA Rule 3120(a)(2) and NYSE Rule 3120(a)(2), which the Exchange says may simplify annual reporting procedures for members who are also participants on NYSE and/or members of FINRA. This conformity is intended to reduce duplicate reporting fo…
- Immediate Operative Effect and 60-Day Review: mixed, low. The Commission waived the normal 30-day operative delay so the proposed rule change became operative upon filing (filed March 10, 2025). The Commission may temporarily suspend the rule within 60 days of filing, and interested persons were invited to submit comments by April 8, 2025.

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## Sources
- [2025-04325 on federalregister.gov](https://www.federalregister.gov/documents/2025/03/18/2025-04325/self-regulatory-organizations-cboe-exchange-inc-notice-of-filing-and-immediate-effectiveness-of-a)
- [2025-04325 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-03-18/pdf/2025-04325.pdf)

## Related
- [Previous: 2025-04324, Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2025-04324)
- [Next: 2025-04326, Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immedia…](https://policyrisk.com/federal-register/2025-04326)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-04325 (as of 2026-06-08).