Cboe Simplifies Audit Submission Rules for Traders
Published Date: 8/29/2025
Notice
Summary
Cboe Exchange is updating its rules to make it clearer and easier for Trading Permit Holders to submit their yearly audited financial reports. This change affects all Trading Permit Holders and requires them to follow a specific federal rule when sending in their audits. The new rules are effective immediately, helping keep things transparent without adding extra costs or delays.
Analyzed Economic Effects
5 provisions identified: 4 benefits, 1 costs, 0 mixed.
All Trading Permit Holders Must File Annual Audits
The Exchange now requires every Trading Permit Holder (TPH) to submit an annual audited report to the Exchange in accordance with SEC Rule 17a-5(d). This change applies to all TPHs, including the five TPHs (of 94) that previously relied on the exemption in Rule 17a-5(d)(1)(iv) and did not file audited reports with the Exchange.
Filing Deadline Aligned to 60 Days After Fiscal Year
The Exchange has aligned Rule 7.4(a) with SEC Rule 17a-5 so annual reports must be filed no more than 60 calendar days after a TPH's fiscal year end. The rule clarifies that the scope of information required matches Rule 17a-5(d) and Form X-17A-5.
Accountant Notification Deadline Moved to December 10
The Exchange aligned its deadline for TPHs to notify the Exchange of the name of their independent public accountant with SEC Rule 17a-5(f)(2), requiring that statement no later than December 10 of each year (or 30 days after registration if earlier). This replaces the prior January 10 notification date in Exchange rules.
Exchange Deletes Substitute-Filing Exception
The proposed rule deletes the prior Exchange exception that allowed a TPH to submit, in lieu of the required report, a copy of a financial statement filed with another national securities exchange or state agency. The Exchange states this exception is unnecessary because TPHs must comply with the Act's Form X-17A-5 requirement.
Extensions Allowed for Exceptional Circumstances
If the Exchange is a TPH's designated examining authority (DEA) and a TPH cannot meet the filing deadline for annual audits due to exceptional circumstances, the TPH may request a written extension from the Exchange. The Exchange will also recognize extensions or exemptions granted by the Commission or the TPH's DEA.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-17183, Regulation Crypto Assets
The Securities and Exchange Commission ("Commission") is proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets. The proposed offering regime is intended to facilitate capital formation and accommodate innovation within the crypto asset markets while, at the same time, ensuring that investors are adequately protected and provided with the information they need to make informed investment decisions. The proposed rules would be set forth in a new regulation titled "Regulation Crypto Assets" and would include two exemptions from the registration requirements of section 5 of the Securities Act of 1933. The first exemption would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period. Under both exemptions, issuers would be required to make certain principles-based narrative disclosures available to their investors. In addition, issuers under the second exemption would be required to provide financial statements and would be subject to ongoing reporting requirements. Issuers that rely on these exemptions would remain subject to the antifraud and antimanipulation provisions of the Federal securities laws. The proposed rules also would include a conditional safe harbor from the term "investment contract" in the definitions of "security" in the Securities Act of 1933 and the Securities Exchange Act of 1934. If the conditions of that proposed safe harbor are satisfied, then a crypto asset would be deemed not to be subject to an investment contract for purposes of those definitions of "security."
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222, Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651, Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-17058, Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Connectivity Schedule and Discontinue a Previously Proposed Offering
Previous / Next Documents
Previous: 2025-16574, Endangered and Threatened Species; Receipt of Recovery Permit Applications
The U.S. Fish and Wildlife Service got requests for special permits to study and help endangered or threatened animals and plants. They’re asking everyone—local folks, tribes, and government groups—to share their thoughts before deciding. This is a chance to support saving species and shape how research happens, so don’t miss the comment deadline!
Next: 2025-16576, Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by The Options Clearing Corporation Concerning the Execution of the Clearing Member Agreement and the Non-U.S. Clearing Member Agreement
The Options Clearing Corporation (OCC) is updating its Clearing Member Agreements by removing the Officer’s Certificate and signature block. This change lets OCC offer new ways to provide required certifications without changing any rights or responsibilities. The update took effect immediately on August 21, 2025, and affects all current and future clearing members, including those outside the U.S.