U.S. Securities and Exchange Commission (SEC)
Official Release: https://www.sec.gov/files/litigation/admin/2026/34-106362.pdf
NEWS: In 2021, the SEC found that an undisclosed "Auto Hold" feature in S&P DJI's VIX-related index caused stale values to be published during periods of volatility on February 5, 2018. The index was used as a key input for the indicative value of Credit Suisse's XIV inverse exchange-traded note. S&P DJI agreed to a cease-and-desist order and a $9 million penalty without admitting or denying the SEC's findings.
The September 15, 2026 order advances the Fair Fund distribution process from that case. The SEC says the administrator had already distributed $9,048,493.23 and that $75,374.20 remained in the fund as of July 24, 2026. The newly authorized $1,510.78 is to be transferred to the fund's escrow account for payment to two late claimants under the approved plan.
KEY POINTS:
- The 2026 order authorizes a second Fair Fund distribution of $1,510.78 to two late claimants.
- The claimants' calculated payments exceed the plan's $10 minimum distribution threshold.
- The prior distribution totaled $9,048,493.23; $75,374.20 remained as of July 24, 2026.
- The underlying SEC case concerned stale VIX-index values tied to an undisclosed Auto Hold feature.
- The 2026 order concerns compensation administration, not a new enforcement action.