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SEC Director Selway Issues Opening Remarks at the Options Market Structure Roundtable
WASHINGTON, April 17 -- The Securities and Exchange Commission issued the following remarks on April 16, 2026, by Trading and Markets Director Jamie Selway at the Options Market Structure roundtable:
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Thank you, Commissioners Peirce and Uyeda, for your remarks today and for your engagement on options market structure. In particular, I'd like to credit Commissioner Peirce with the idea of this roundtable. Her advocacy and leadership on options helped make today possible, and her intellectual curiosity, passion for our work, and dedication to core Commission principles regularly make our Division
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WASHINGTON, April 17 -- The Securities and Exchange Commission issued the following remarks on April 16, 2026, by Trading and Markets Director Jamie Selway at the Options Market Structure roundtable:
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Thank you, Commissioners Peirce and Uyeda, for your remarks today and for your engagement on options market structure. In particular, I'd like to credit Commissioner Peirce with the idea of this roundtable. Her advocacy and leadership on options helped make today possible, and her intellectual curiosity, passion for our work, and dedication to core Commission principles regularly make our Divisionbetter.
I also want to thank our moderators and distinguished panelists for lending us your valuable time, expertise, and experience today to help inform the Commission and the investing public we serve. We are confident that this group will lead us through a lively, thought-provoking, and informative discussion about current issues in the options market.
Before I begin, please note that my remarks today are provided in my official capacity as the Commission's Director of the Division of Trading and Markets, and do not necessarily reflect the views of the Commission, the Commissioners, or members of the staff. This disclaimer also applies to the comments of my Division colleagues who will join me as part of today's program.
As we explore current topics in options market structure today, it is useful to remember the Commission's last deep dive into the listed options waters was in 2004: a concept release on Competitive Developments in the Options Markets. The concept release reflected on fundamental questions about how competition, technology, and investor protection intersect in the options market. It came on the heels of a transformational time for options. Multiple-listing had been introduced in August 1999, driving venue competition. The International Securities Exchange launched in May 2000, becoming the first new entrant in the options market in more than two decades. Controversy marked introduction of payment of order flow and internalization to options markets then, as execution venues sought to differentiate themselves to customers. Some of the questions raised in the concept release, such as the appropriateness of execution quality disclosure to options trading, remain relevant today.
Now, more than 20 years later, the options market has seen phenomenal growth, with increasing retail participation and the addition of more options exchanges - and hence competition and investor choice. At the same time, options markets are working harder than ever. The sharp increase in the number of options classes and series and exploding quote traffic necessitate higher levels of technological investment and capital commitment. And despite these transformative changes, liquidity is even more concentrated in a limited set of the most active symbols, wide spreads are common in less liquid symbols, large market makers occupy a significant number of specialist appointments, and consolidators control the vast majority of retail flow. Many of the same issues from 2004 persist. It is therefore incumbent upon us to re-inform ourselves and revisit where things stand.
In our first segment, we will delve deeper into these trends via data. As we listen, consider that what's old is new again, albeit with a modern twist. As the options market evolves, many of the underlying policy questions with which the Commission and market participants have grappled over the years remain familiar. But today, we consider those policy questions in a landscape that is profoundly more automated, interconnected, and complex than ever before. For example, we continue to consider ways to promote and facilitate competition, while addressing any potential negative effects of fragmentation.
At the same time new issues have emerged, like short-term options series with more expirations during the week. And ORF. Though, I am happy to say that in the case of the Options Regulatory Fee, every exchange has amended its rules as part of a successful, if long-overdue, industry-led reform effort. This reform will move the marketplace to a more equitable and fair regulatory funding model on July 1 of this year. And to the exchange leader who volunteered last fall to participate in an ORF roundtable on December 24, your Christmas comes early in 2026.
Today's roundtable is an effort by the Commission to once again engage with market participants in a thoughtful dialogue on these issues and to reexamine and reaffirm an approach that supports transparency, fairness, and competition in the markets that investors rely on every day. We should consider how to respond to changing market dynamics, whether in technology, trading behavior, or market participation, and reflect on our collective past experience and lessons learned as we do so. I expect that today's panels will provide robust discussions that will help us assess these important market structure issues.
First, we will hear from Jesse Brady and Ethan Coombs in the Division's Office of Analytics and Research. Jesse and Ethan will present highlights from their paper that was released last week to support today's discussion. The paper is available on the roundtable webpage and on the Commission's market structure analytics page. The data describes key trends observed in the options market in recent years.
Following the presentation, we will have three panel discussions. Panel one, moderated by Division colleague Arun Manoharan, will examine how the current options market structure facilitates or hinders the ability of liquidity providers to compete fairly and freely in furtherance of a robust national market system. Our second panel will discuss the customer experience with listed options. Division colleagues Jon Kroeper and Eric Juzenas will moderate. After lunch, Chairman Atkins will make remarks. Our third and final panel will be moderated by Richard Holley and will consider the growth of listed options, the associated challenges and opportunities that growth presents, and the issues that the Commission and market participants should consider in the years ahead.
Again, thank you to everyone participating in today's roundtable. We look forward to exploring with you an interesting and always-evolving segment of the marketplace, which is increasingly important to investors.
I'll now turn it over to Jesse and Ethan.
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Original text here: https://www.sec.gov/newsroom/speeches-statements/selway-opening-remarks-options-market-structure-roundtable-041626
SEC Commissioner Uyeda Issues Statement at the Roundtable on Options
WASHINGTON, April 17 -- The Securities and Exchange Commission issued the following remarks on April 16, 2026, by Commissioner Mark T. Uyeda at the roundtable on options:
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Good morning. Thank you to the Division of Trading and Markets (the "Division") and other staff of the Commission for organizing this roundtable on options market structure.[1] Many thanks to our participants, who have taken the time to join us today. We look forward to hearing your thoughts.
For as long as I can remember, equity market structure - and to a lesser extent, fixed income market structure, has taken center
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WASHINGTON, April 17 -- The Securities and Exchange Commission issued the following remarks on April 16, 2026, by Commissioner Mark T. Uyeda at the roundtable on options:
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Good morning. Thank you to the Division of Trading and Markets (the "Division") and other staff of the Commission for organizing this roundtable on options market structure.[1] Many thanks to our participants, who have taken the time to join us today. We look forward to hearing your thoughts.
For as long as I can remember, equity market structure - and to a lesser extent, fixed income market structure, has taken centerstage in the Commission's public and regulatory dialogue. In fact, over the years, we have convened advisory committees in both of those areas. Issues like fragmentation, concentration, data asymmetries, and uneven execution quality have been studied extensively on the equity side. But data recently released by the Commission makes clear that many of the concerns long debated in equities exist to an even greater degree in options.[2]
During the last ten years, the options landscape has transformed dramatically. Growth in retail participation, particularly in short dated and ultra short dated strategies, has reshaped order flow dynamics, execution pathways, and the economics of liquidity provision. These developments should cause us to reconsider the assumptions behind our existing regulations. For example, how does the increasing fragmentation--15 exchanges with >1% market share--affect the execution quality of retail marketable orders?
We should also consider issues in the institutional space--such as the practical effects of market maker entitlements, data asymmetries, and competitive barriers. Do today's institutional market makers still require the types of incentives and entitlements that exist in current floor auction rules? Or has the market evolved to a point where those mechanisms should be revisited?
The Commission should optimize regulations for all types of market participants, including individuals who are often the beneficiaries of institutional investors. I look forward to public feedback on how our rules can be modernized to strengthen execution quality, enhance competition, and ensure the options market can effectively serve investors, institutions, and issuers alike. The data is clear--and the moment is right--for thoughtful, measured reform. I thank Chairman Atkins for convening this options market structure roundtable.
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[1] My remarks today reflect my views as an individual Commissioner and not necessarily the views of the full Commission or my fellow Commissioners.
[2] See Division of Trading and Markets, Roundtable on Options Market Structure--Supporting Data (April 9, 2026), available at https://www.sec.gov/files/roundtable-options-market-structure.pdf.
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Original text here: https://www.sec.gov/newsroom/speeches-statements/uyeda-statement-roundtable-options-041626
CPSC Issues Recall Alert Involving Zoliquex Adult Portable Bed Rails
WASHINGTON, April 17 -- The Consumer Product Safety Commission issued the following recall alert on April 16, 2026:
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Name of Product: ZOLIQUEX Adult Portable Bed Rails
Hazard: The recalled bed rails violate the mandatory standard for adult portable bed rails because users can become entrapped within the bed rail or between the bed rail and the side of the mattress, posing a serious entrapment hazard and risk of death by asphyxiation. In addition, the bed rails do not bear the required hazard warning labels.
Remedy: Refund
Recall Date: April 16, 2026
Units: About 16,000
Consumer Contact:
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WASHINGTON, April 17 -- The Consumer Product Safety Commission issued the following recall alert on April 16, 2026:
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Name of Product: ZOLIQUEX Adult Portable Bed Rails
Hazard: The recalled bed rails violate the mandatory standard for adult portable bed rails because users can become entrapped within the bed rail or between the bed rail and the side of the mattress, posing a serious entrapment hazard and risk of death by asphyxiation. In addition, the bed rails do not bear the required hazard warning labels.
Remedy: Refund
Recall Date: April 16, 2026
Units: About 16,000
Consumer Contact:ZOLIQUEX by email at ZEXnaturemedical@outlook.com, or online at https://www.zoliquex.com/recalls/ or https://www.zoliquex.com and click "Recall" at the top of the page for more information.
Recall Details
Description: This recall involves Zoliquex-branded adult portable bed rails. The bed rail comes in silver, measures 12.4 wide by 33.07 inches tall, and weighs 7.1 pounds. The model number "ZEX014-V1" and "Zoliquex" are both printed on the products packaging.
Remedy: Consumers should stop using the recalled adult portable bed rails immediately and contact ZOLIQUEX for a full refund. Consumers should cut the black safety strap in half and write "RECALLED" on the upper and lower bed rails with a permanent marker, take a photo of the marked bed rail with the buyer's name on a piece of paper and email the photo to ZEXnaturemedical@outlook.com.
Incidents/Injuries: None reported
Sold Online At: Amazon.com from August 2023 through February 2026 for about $43.
Manufacturer(s): ZOLIQUEX, of China
Retailer: Cheyouhang Technology Shenzhen Co., Ltd., dba ZOLIQUEX, of China
Manufactured In: China
Recall number: 26-425
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Original text here: https://www.cpsc.gov/Recalls/2026/Adult-Portable-Bed-Rails-Recalled-Due-to-Risk-of-Serious-Injury-or-Death-from-Entrapment-and-Asphyxiation-Violates-Mandatory-Standard-for-Adult-Portable-Bed-Rails-Sold-on-Amazon-by-ZOLIQUEX
CPSC Issues Recall Alert Involving Sweetcrispy Electric Pressure Washers
WASHINGTON, April 17 -- The Consumer Product Safety Commission issued the following recall alert on April 16, 2026:
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Name of Product: Sweetcrispy Electric Pressure Washers
Hazard: The recalled pressure washers lack an integral ground-fault circuit-interrupter (GFCI), posing a serious risk of injury or death from shock and electrocution hazards.
Remedy: Refund
Recall Date: April 16, 2026
Units: 2,300
Consumer Contact: Sweetcrispy toll-free at 877-820-7778 from 9 a.m. to 4 p.m. PT, Monday through Friday, email at LR023784@outlook.comor online at https://www.sweetcrispy.com/pages/product-safety-recall-notice-sweetcrispy-pressure-washer
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WASHINGTON, April 17 -- The Consumer Product Safety Commission issued the following recall alert on April 16, 2026:
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Name of Product: Sweetcrispy Electric Pressure Washers
Hazard: The recalled pressure washers lack an integral ground-fault circuit-interrupter (GFCI), posing a serious risk of injury or death from shock and electrocution hazards.
Remedy: Refund
Recall Date: April 16, 2026
Units: 2,300
Consumer Contact: Sweetcrispy toll-free at 877-820-7778 from 9 a.m. to 4 p.m. PT, Monday through Friday, email at LR023784@outlook.comor online at https://www.sweetcrispy.com/pages/product-safety-recall-notice-sweetcrispy-pressure-washeror www.sweetcrispy.com and click on "Product Recalls" at the top of the page for more information.
Recall Details
Description: This recall involves Sweetcrispy pressure washers. The recalled, 2 GPM electric pressure washers are green or blue with black, and measure about 25.5 inches high, 11.8 inches wide and 9.8 inches deep. They came with a 500 ml spray can attachment, foam cannon, five quick disconnect nozzles, a 23-foot hose and two rollers. Model number "XCJ-K01" is printed on a label on the back of the pressure washers.
Remedy: Consumers should stop using the recalled pressure washers immediately and contact Sweetcrispy for a full refund. Consumers will be asked to destroy the pressure washer by cutting the unplugged power cord and send a photo of the destroyed power washer to LR023784@outlook.com. Consumers should then dispose of the destroyed recalled product.
Incidents/Injuries: None reported
Sold Online At: Amazon.com from July 2025 through January 2026 for between $60 and $130.
Retailer: Zhejiang Hengjian Home Furnishing Co Ltd., dba Sweetcrispy, of China
Manufactured In: China
Recall number: 26-423
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Original text here: https://www.cpsc.gov/Recalls/2026/Sweetcrispy-Recalls-Pressure-Washers-Due-to-Serious-Risk-of-Injury-or-Death-from-Shock-and-Electrocution-Hazards
CPSC Issues Recall Alert Involving Sanlebi Pet Vet Playsets
WASHINGTON, April 17 -- The Consumer Product Safety Commission issued the following recall alert on April 16, 2026:
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Name of Product: Sanlebi Pet Vet Playsets
Hazard: The Pet Vet Playset violates the mandatory standard for toys because the button cell batteries in the nail grinder and otoscope can be easily accessed by children.
Remedy: Refund/Replace
Recall Date: April 16, 2026
Units: About 4,650
Consumer Contact: Letokids by email at letorecall@outlook.com.
Recall Details
Description: This recall involves the Sanlebi Pet Vet Playset, model MX094. The playset includes 25 toy veterinary
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WASHINGTON, April 17 -- The Consumer Product Safety Commission issued the following recall alert on April 16, 2026:
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Name of Product: Sanlebi Pet Vet Playsets
Hazard: The Pet Vet Playset violates the mandatory standard for toys because the button cell batteries in the nail grinder and otoscope can be easily accessed by children.
Remedy: Refund/Replace
Recall Date: April 16, 2026
Units: About 4,650
Consumer Contact: Letokids by email at letorecall@outlook.com.
Recall Details
Description: This recall involves the Sanlebi Pet Vet Playset, model MX094. The playset includes 25 toy veterinaryrole-play parts in blue and white colors. The parts include: a plush dog, pet cage, vet coat, vet hat, eyeglasses, pen, ID badge, bandage, Elizabethan collar, forceps, infusion bottle, nail grinder, syringe, thermometer, dental mirror, otoscope, clipboard, two pill bottles, medicine tray, scissors, tweezer, scalpel, reflex hammer, and pulse monitor. "Sanlebi" is printed on the front of the package and "MX094" is printed on the back of the package.
Remedy: Consumers should take away the nail grinder and otoscope from children immediately, stop using them and remove and properly dispose of the batteries. Consumers will be asked to throw the nail grinder and otoscope components away and send a photo of the disposed components to letorecall@outlook.com to receive a $5 refund or replacement nail grinder and otoscope.
Note: Button cell batteries are hazardous. Batteries should be disposed of or recycled by following local hazardous waste procedures.
Incidents/Injuries: None reported
Sold Online At: Amazon.com from June 2025 through January 2026 for between $20 and $26.
Manufacturer(s): Guangzhou Letao Keji Youxiangongsi, doing business as Letokids, of China
Manufactured In: China
Recall number: 26-408
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Original text here: https://www.cpsc.gov/Recalls/2026/Sanlebi-Pet-Vet-Playsets-Recalled-Due-to-Risk-of-Serious-Injury-or-Death-from-Battery-Ingestion-Violates-Mandatory-Standard-for-Toys-Sold-on-Amazon-by-Letokids
CPSC Issues Recall Alert Involving Fisher & Paykel Gas Ranges
WASHINGTON, April 17 -- The Consumer Product Safety Commission issued the following recall alert on April 16, 2026:
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Name of Product: Fisher & Paykel Gas Ranges
Hazard: The ovens in the ranges can experience a delayed ignition, causing gas to accumulate and the oven door to open from combustion, posing a burn hazard to users.
Remedy: Repair
Recall Date: April 16, 2026
Units: About 433 (In addition, about 70 were sold in Canada)
Consumer Contact: Fisher & Paykel toll-free at 866-936-7327 from 8 a.m. to 8 p.m. ET Monday through Friday, email at techphotos@fisherpaykel.com, with the title
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WASHINGTON, April 17 -- The Consumer Product Safety Commission issued the following recall alert on April 16, 2026:
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Name of Product: Fisher & Paykel Gas Ranges
Hazard: The ovens in the ranges can experience a delayed ignition, causing gas to accumulate and the oven door to open from combustion, posing a burn hazard to users.
Remedy: Repair
Recall Date: April 16, 2026
Units: About 433 (In addition, about 70 were sold in Canada)
Consumer Contact: Fisher & Paykel toll-free at 866-936-7327 from 8 a.m. to 8 p.m. ET Monday through Friday, email at techphotos@fisherpaykel.com, with the title"Ignitor Inspection" or online at https://support.fisherpaykel.com/s/product-recall/professional-ranges or fisherpaykel.com and click on "Support" and then "Product Recall" for more information.
Recall Details
In Conjunction With:
Description: This recall involves Fisher & Paykel 30, 36 and 48-inch stainless steel, free-standing or self-contained gas ranges (RGV3 models). The gas ranges come in natural gas or liquified petroleum gas. The recalled models have a serial number starting with EEV, ERV, EAV, EYV, EUV, ELV or RFV. The model and serial numbers are printed on the rating plate located on either the back of the product or behind the front kick strip. The recalled gas ranges include:
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Recalled Model Number ... Serial Number ... Date Code ... UPC Code
RGV3-305-N ... EEVxxxxxx to RFVxxxxxx ... May 25 to Jan 26 ... 822843828494
RGV3-305-L ... EEVxxxxxx to RFVxxxxxx ... May 25 to Jan 26 ... 822843828500
RGV3-366-N ... EEVxxxxxx to RFVxxxxxx ... May 25 to Jan 26 ... 822843820023
RGV3-366-L ... EEVxxxxxx to RFVxxxxxx ... May 25 to Jan 26 ... 822843820030
RGV3-304-N ... EEVxxxxxx to RFVxxxxxx ... May 25 to Jan 26 ... 822843820047
RGV3-304-L ... EEVxxxxxx to RFVxxxxxx ... May 25 to Jan 26 ... 822843820054
RGV3-486GD-N ... EEVxxxxxx to RFVxxxxxx ... May 25 to Jan 26 ... 822843823833
RGV3-486GD-L ... EEVxxxxxx to RFVxxxxxx ... May 25 to Jan 26 ... 822843823840
RGV3-488N ... EEVxxxxxx to RFVxxxxxx ... May 25 to Jan 26 ... 822843829736
RGV3-488L ... EEVxxxxxx to EKVxxxxxx ... May 25 to Oct 25 ... 822843829743
RGV3-485GD-N ... EEVxxxxxx to EAVxxxxxx ... May 25 to Aug 25 ... 822843829750
RGV3-485GD-L ... EEVxxxxxx to ELVxxxxxx ... May 25 to Dec 25 ... 822843829767
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Remedy: Consumers should stop using the ovens in the recalled gas ranges immediately and contact Fisher & Paykel for a free inspection and repair. Fisher & Paykel will provide professional in-home repair of the oven's ignitor. Consumers can continue to use the cooktop burners on the range.
Incidents/Injuries: The firm has received 18 reports of gas ranges with delayed ignition and one report of a minor burn injury.
Sold At: Factory Builder Stores, Albert Lee Inc and other appliance retail stores nationwide from June 2025 through March 2026 for between $6,200 and $14,000.
Manufacturer(s): Fisher & Paykel Appliances (Thailand) Co., Ltd, of Thailand
Manufactured In: Thailand
Recall number: 26-419
Fast Track Recall
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Original text here: https://www.cpsc.gov/Recalls/2026/Free-Standing-Professional-Gas-Ranges-Recalled-Due-to-Risk-of-Burn-Hazard-Manufactured-by-Fisher-and-Paykel
CPSC Issues Recall Alert Involving Bayotak USA Electric Pressure Washers
WASHINGTON, April 17 -- The Consumer Product Safety Commission issued the following recall alert on April 16, 2026:
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Name of Product: BAYOTAK USA Electric Pressure Washers
Hazard: The recalled pressure washers lack an integral ground-fault circuit-interrupter (GFCI), posing a serious risk of injury or death from shock and electrocution hazards.
Remedy: Replace
Recall Date: April 16, 2026
Units: 360
Consumer Contact: BAYOTAK USA by email at bayotakservice@163.com.
Recall Details
Description: This recall involves BATOYAK USA-branded pressure washers, The recalled, electric pressure
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WASHINGTON, April 17 -- The Consumer Product Safety Commission issued the following recall alert on April 16, 2026:
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Name of Product: BAYOTAK USA Electric Pressure Washers
Hazard: The recalled pressure washers lack an integral ground-fault circuit-interrupter (GFCI), posing a serious risk of injury or death from shock and electrocution hazards.
Remedy: Replace
Recall Date: April 16, 2026
Units: 360
Consumer Contact: BAYOTAK USA by email at bayotakservice@163.com.
Recall Details
Description: This recall involves BATOYAK USA-branded pressure washers, The recalled, electric pressurewashers are green and black, and measure about 16 inches high, 11 inches wide and 16 inches deep. They come with a foam cannon, four connect nozzles, a 20-foot hose and two rollers. "Model: C4012PLUS-1500C" is printed on a label located on the back of the pressure washers.
Remedy: Consumers should immediately stop using the recalled pressure washers and contact BATOYAK USA for a free replacement pressure washer of at least equal value to the recalled pressure washer, including shipping. Consumers will be asked to destroy the pressure washer by unplugging it and cutting the power cord in half and send a photo of the destroyed power washer to bayotakservice@163.com. Consumers should then dispose of the destroyed recalled product.
Incidents/Injuries: None reported
Sold Online At: Amazon.com from October 2025 through January of 2026 for about $110.
Importer(s): NingboRuiyaodianzishangwuyouxiangongsi, dba BAYOTAK USA, of China
Manufactured In: China
Recall number: 26-406
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Original text here: https://www.cpsc.gov/Recalls/2026/Pressure-Washers-Recalled-Due-to-Serious-Risk-of-Injury-or-Death-from-Shock-and-Electrocution-Hazards-Imported-by-BAYOTAK-USA
