The Board of Governors of the American Stock Exchange announced today that it appointed Claudia Crowley, the Amex's deputy chief regulatory officer, as the acting chief regulatory officer of the Exchange. The Board took this action in response to the fact that Glen Barrentine, who has been chief regulatory officer of the Exchange, received a Wells Notice from the Staff of the Securities and Exchange Commission (SEC) in connection with the SEC's investigation into Amex's regulatory program relating to options order handling. A Wells Notice is an invitation to make a submission to the Staff addressing whether civil enforcement proceedings should be instituted against the recipient.
Ms. Crowley will act as chief regulatory officer, pending the conclusion of matters involving the SEC and Mr. Barrentine. As previously disclosed by the Amex, the chief regulatory officer of the Exchange reports exclusively to the Board's Compliance Review Committee, a committee comprised of a majority of public governors which oversees regulatory compliance at the Amex.
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