The Nasdaq Stock Market LLC (Nasdaq) and NYSE Arca Inc. (NYSE Arca) filed rule changes to amend each exchange’s rules to eliminate provisions requiring each member doing a public customer business in options to designate specific individuals to act as a Senior Registered Options Principal (SROP) and as a Compliance Registered Options Principal (CROP). Under the proposed changes, members will instead be required to integrate the responsibility for supervision of their public customer options business into their overall supervisory and compliance programs. Each rule filing also included certain other elements designed to strengthen options supervision practices. Deleting the SROP/CROP requirements conforms Nasdaq and NYSE Arca rules to those of the Financial Industry Regulatory Authority and certain other options exchanges.

http://www.sec.gov/rules/sro/nasdaq/2008/34-58840.pdf

http://www.sec.gov/rules/sro/nysearca/2008/34-58748.pdf